Raffles Medical Group Ltd.

Raffles Medical Group Ltd.

Raffles Medical Group Ltd.

Overview
Date Founded

1989

Headquarters

585 North Bridge Road, No. 11-00, Raffles Hospital, Singapore, 188770, SGP

Type of Company

Public

Employees (Worldwide)

997

Industries

Hospitals & Patient Services

Company Description

Raffles Medical Group (RMG) is a leading medical group and the largest private group practice in Singapore. As a fully integrated healthcare organisation, the Group owns and operates a network of family medicine clinics, a tertiary care private hospital, insurance services and a consumer healthcare division. Patients of the Group enjoy a continuum of care, from having their most basic healthcare needs met through the Group’s islandwide network of Raffles Medical clinics, to specialist and tertiary care at Raffles Hospital. Founded in 1976 with two clinics in central Singapore, RMG has grown consistently over the years to serve over one million patients today and 6,500 corporate clients including local and multi-national corporations and government agencies. Raffles Medical Group operates a network of 78 multi-disciplinary clinics across Singapore, and four medical centres in Hong Kong and Shanghai. The Group also manages the airport clinics in Singapore’s Changi International Airport and Hong Kong’s Chek Lap Kok International Airport. On top of managing common ailments like cough and cold, the network of clinics under Raffles Medical also offers health checks, travel health services and workplace health consultancy. The Group’s flagship, Raffles Hospital, is a tertiary hospital. Located in the heart of Singapore, Raffles Hospital offers a full complement of specialist services combined with advanced medical technology. Its 21 specialist centres meet a wide variety of medical needs such as obstetrics and gynaecology, cardiology, oncology and orthopaedics. As an extension of its healthcare services, the Group offers health financing under its subsidiary Raffles Health Insurance (RHI). The Group’s healthcare insurance specialist writes health insurance policies for both corporate groups and individuals. RHI is able to leverage on RMG's healthcare network to provide a seamless and superior service, where the health insurer and the healthcare provider are two halves of one integrated unit. Raffles Health, the Group’s consumer healthcare division, develops and distributes a full range of nutraceuticals, supplements, vitamins and medical diagnostic equipment for personal healthcare in Singapore and in the regional markets. Raffles Medical Group subscribes to the Institutional Group Practice Model, a mode of practice adopted by internationally renowned US medical institutions such as the Mayo Clinic. Through this model, specialists work as a team to provide patients the quality assurance of medical services that are integrated, peer reviewed and medically audited.

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In The News
The Straits Times (Singapore)
November 12, 2019
Raffles Hospital agrees to let healthcare union represent staff
The Straits Times (Singapore)
October 30, 2019
Company Briefs: Raffles Medical Group
Executives & Employees

Executive Chairman & Co-Founder

Chief Financial Officer

Chief Information Officer

General Manager-Raffles Hospital

General Manager Raffles Hospital

General Manager-Raffles Health Insurance

General Manager-Raffles Dental

General Manager Raffles Medical Singapore

General Manager Raffles Health Insurance

Group Financial Controller & Company Secretary

Board of Directors

Executive Chairman & Co-Founder at Raffles Medical Group Ltd.

Executive Chairman at APS Asset Management Pte Ltd.

Former Chief Investment Officer at CapitaLand Ltd.

Former Chief Executive Officer-Food & Beverage at Fraser and Neave Limited

Former Group Deputy Chief Executive Officer at CapitaLand Ltd.

Chairman at Tropical Marine Science Institute

Associate Professor-Management & Organization at Nanyang Technological University - Nanyang Business School

Former Managing Director & Head-Capital Markets at DBS Bank Ltd.

Non-Independent Director at Raffles Medical Group Ltd.

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Raffles Medical Group Ltd.
Owners & Shareholders
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Global Alpha Capital Management focuses exclusively on investments in small-cap equities on a global basis. The firm employs a core investment style that combines growth and value characteristics. Their investment approach is based on a fundamental, bottom-up security selection process. The investment strategies used are mainly long-term purchases (securities held for more than a year) with some short-term purchases (securities held for less than a year). The portfolio managers at Global Alpha believe that sales and profit growth are key determinants of value creation. Their fundamental approach seeks to identify companies with unrecognized and accelerating earnings growth potential. Bottom-up stock selection is based on global themes within a concentrated portfolio. Global Alpha's key investment themes can be exploited over the long-term and may include, among others, emerging market consumers, health care, technology, alternative energy, environment, outsourcing. The firm believes that diversification at multiple levels is critical to managing risk.^

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Altrinsic Global Advisors Canada (AGAC) specializes exclusively in international and global equity investments and seeks to capitalize on inefficiencies in the world's equity markets by taking a long-term view. The firm is an intrinsic-value investor that focuses on the drivers of companies' intrinsic value and financial productivity. They evaluate companies as if purchasing them outright with their own capital. To assess a company's intrinsic value, AGAC's investment team determines its future cash flow generation under \"normalized\" conditions and adjusts for associated risks. Portfolios are available in the several vehicles. The Altrinsic Global Concentrated Equity product is offered through segregated accounts and through a Cayman Islands exempted company. It generally exists of 15 - 35 holdings. The Altrinsic Global Equity Portfolio consists of 60 - 100 holdings. It is available through segregated accounts, a commingled U.S. limited partnership, an Australia-based unit trust, and a Dublin-domiciled Fund established in accordance with UCITS IV guidelines. The Altrinsic Global Equity Ex-Japan Portfolio is comprised of 60 - 100 holdings and is available through segregated accounts. The Altrinsic International Equity Portfolio consists of 60 -100 holdings and is offered through segregated accounts and a commingled U.S. limited partnership.

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Global Alpha Capital Management focuses exclusively on investments in small-cap equities on a global basis. The firm employs a core investment style that combines growth and value characteristics. Their investment approach is based on a fundamental, bottom-up security selection process. The investment strategies used are mainly long-term purchases (securities held for more than a year) with some short-term purchases (securities held for less than a year). The portfolio managers at Global Alpha believe that sales and profit growth are key determinants of value creation. Their fundamental approach seeks to identify companies with unrecognized and accelerating earnings growth potential. Bottom-up stock selection is based on global themes within a concentrated portfolio. Global Alpha's key investment themes can be exploited over the long-term and may include, among others, emerging market consumers, health care, technology, alternative energy, environment, outsourcing. The firm believes that diversification at multiple levels is critical to managing risk.^

Recent Transactions
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Raffles Medical Group Ltd., Raffles SurgiCentre Pte. Ltd. purchase International SOS Pte Ltd. from AEA International Holdings Pte Ltd.

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Raffles Medical Group Ltd., Raffles SurgiCentre Pte. Ltd. purchase International SOS Pte Ltd. from Cobepa, AEA International Holdings Pte Ltd.

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Diamante Holdings Ltd. purchases Orchard Investment Holdings Pte Ltd. from Raffles Medical Group Ltd.

Clients

Sovereign level government authority

Key Stats and Financials As of 2018
Market Capitalization
$1.83B
Total Enterprise Value
$1.99B
Earnings Per Share
$0.04
Revenue
$489M
Enterprise Value Sales
4.08x
TEVNet Income
28.06x
Debt TEV
0.06x
Net Profit
$71.1M
Total Equity
$817M
Total Debt
$116M
EBITDAMargin
20.3%
Enterprise Value EBITDAOperating
20.08x
EBITDA
$99.3M
Three Year Compounded Annual Growth Rate Of Revenue
6.01%
Five Year Compounded Annual Growth Rate Of Revenue
7.48%
Investments
Details Hidden

International SOS Pte Ltd. provides healthcare, medical assistance, and security services. Its solutions include tracking, staffing, training, clinics, travel security, occupational health, and consulting services. The company was founded in 1985 and is headquartered in Singapore.

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