Why Raffles Medical Group's TCFs are still necessary
The hospital group's shareholders raised queries on care facilities' growth.
Private hospital group, Raffles Medical Group, said its transitional care facilities (TCFs) will continue to aid the government to assist overwhelmed public hospitals amidst bed crunch.
Amidst this, shareholders of Raffles had queries about TCFF growth. The hospital group said TCFs are still important but it will not be its targeted growth area.
In a brokerage report, UOB Kay Hian expects this decision as TCFs face a regulatory risk.
In relation to this, the Ministry of Health said it will retain its TCFs for bed capacity, which could make the redundancy unlikely
"Although COVID-19 has become endemic in Singapore, TCFs still function as step-down care facilities which play a vital part in the domestic healthcare system," said UOB Kay Hian.
With an upcoming TCF tender in the west, winning the tender to operate a second TCF would help heighten RFMD’s 2023-24 net profit significantly, given that the current TCF contributes around 35% of 2022 operating profit.
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