Raffles Medical - UOB Kay Hian 2023-10-23: Entering Vietnam; Inflection Point Remains To Be Seen

• Raffles Medical announced its expansion into Vietnam through a majority stake acquisition in a hospital. Its Changi TCF has also been extended till Feb 25. However, the reveal of TCF unit prices was lower than expected.
• - Read this at SGinvestors.io -

Regional expansion to benefit Raffles Medical to a slight extent.

• Raffles Medical Group (SGX:BSL) announced that it is acquiring a majority stake in a hospital named American International Hospital (AIH) in Ho Chi Minh, Vietnam. The hospital was founded in 2018, has 120 beds and staff of about 500 including 60 doctors.
• - Read this at SGinvestors.io -
• It was noted that the valuation of the hospital was at US$45.6m and would be funded internally by cash. Raffles Medical had about S$300m in cash as at end-1H23. It would also enter into a management services agreement to manage AIH operations.

Not much financial details were given

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-02-25 Raffles Medical - 2024 Results In Line; Share Buyback Announced.

Previous report by UOB:
2024-07-30 Raffles Medical - 1H24 Results Slightly Below Expectations, Margins Remain Soft.

Price targets by 4 other brokers at Raffles Medical Target Prices.

Listing of research reports at Raffles Medical Analyst Reports.

Relevant links:
Raffles Medical Share Price History,
Raffles Medical Announcements,
Raffles Medical Dividend Payout Dates & Corporate Actions,
Raffles Medical News