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IHH expects technology to spur global healthcare sector

The Star·06/01/2025 23:00:00
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PETALING JAYA: IHH Healthcare Bhd expects the continued advancement in technology to consistently spur the healthcare industry.

As such, chairman Tan Sri Dr Nik Norzrul Thani N Hassan Thani believes opportunities to elevate patient experience will continue to present themselves.

“From telemedicine and artificial intelligence-powered treatments and diagnostics to clinical training supported by augmented and virtual reality, these technologies will only keep advancing to support the healthcare industry,” he said in the company’s annual report.

Meanwhile, group chief executive officer Dr Prem Kumar Nair remains confident that the focused execution of the company’s growth expansion plan, coupled with the expansion across the healthcare continuum, will yield positive results.

“We will reinforce our healthcare leadership by prioritising clinical excellence and patient care, as well as transition to value-based healthcare. This will ensure sustainable profitable growth and strong returns for our shareholders,” he said.

With one of the fastest-growing healthcare expenditures among Asean nations, IHH in its operations review within the annual report, said Malaysia poses immense potential for revenue growth and expansion.

“IHH Malaysia will continue to explore earnings-accretive opportunities that drive greater synergies within clusters.

“Collectively, these efforts will allow IHH to increase beds, strengthen medical tourism contribution, improve healthcare quality and accessibility to locals.”

On its Singapore operations, it plans to leverage the country’s well-established reputation as a medical hub for the region.

“We will continue to enhance our value proposition in Singapore through deeper expertise in complex care. For example, IHH Singapore introduced cutting-edge cancer treatments such as proton therapy and hyperthermia therapy to further enhance its competitive strength in radiation oncology.”

On its plans for Turkiye and Europe, IHH noted that the ageing populations there require greater and more complex care.

“We are on track to meet these needs by expanding our bed capacity in Turkiye and Europe within the next five years.

“As part of our strategy to manage foreign currency volatility, we will continue to explore ways to expand our footprint and contributions from operations in Europe.

“This also includes attracting more medical travellers into our network in Istanbul to mitigate exposure risk to the lira.”

IHH said it is also on a constant drive to deepen its presence within India via its twin growth engines, Fortis and Gleneagles, to make quality healthcare more accessible to underserved communities.

“Collectively, we aim to increase hospital bed capacity by more than a third to about 7,000 beds by 2028. We also seek expansion opportunities in existing clusters and Tier-2 cities through value-accretive acquisitions, drawing strength and synergies from our large network.”

With a rapidly ageing population and the need to meet age-related illnesses, IHH said Hong Kong’s healthcare expenditure is among the highest in Asia.

“In response, IHH will continue to expand its services across the healthcare continuum, in line with local healthcare agendas.

“In Shanghai, we are turning around underperforming assets through rebranding our clinics and improving insurance penetration. We are keeping up with efforts to attract more healthcare professionals to join the private healthcare sector.”