SEO Version
CHAIRMAN’S
STATEMENT
DEAR SHAREHOLDERS,
Recapping FY2013, the Group turned in an encouraging
performance by having achieved a revenue growth of
24% to S$14.7 million against S$11.9 million previously.
Correspondingly, profit for the year increased by 91% to
S$65,000.
AsiaMedic’s core business continues to gain traction as
diagnostic imaging and wellness management registered
an increase of 11.5% in revenue to S$12.7 million. The
Group remains well positioned to capture the growing
market which is anchored by factors such as aging
population, rising health awareness and burgeoning
medical tourism.
FY2013 was a busy year for business development, as
AsiaMedic continues to invest in opportunities that reap
synergistic benefits for its core businesses. In May 2013,
the Group acquired an 80% equity stake in Complete
Healthcare International Pte Ltd (“CHI”), a profitable,
multi-doctor medical practice that targets expatriate
community in Singapore. This acquisition reinforces the
Group’s strategy in providing quality premier healthcare.
On top of allowing the Group to make inroads into local
medical practice segment, the acquisition also enables
AsiaMedic to expand the client base of its core services
through referrals from CHI.
In June 2013, AsiaMedic expanded its healthcare portfolio
further through another acquisition involving a 70% stake
in Astique The Aesthetic Clinic (“Astique”). Astique, being
a boutique clinic, focuses on providing medical aesthetic
treatments that require minimal recovery time. This
includes laser skin treatments, facelifts and Medi-facials.
This acquisition not only enhances AsiaMedic’s wellness
business, but also offers potential business opportunities
via cross referrals of services under the Group.
In July 2013, we seized the opportunity to partner with
Cryoviva International Pte Ltd in a joint venture to set up
Cryoviva Singapore Pte Ltd, which has become the third
private operator in Singapore’s cord blood banking scene.
Starting out at a 25% stake with an option to raise our
holdings, we believe there is immense market potential for
cord blood banking and stem cell therapy in Singapore.
We view Cryoviva International’s successful track record
in India and Thailand as a strong testament to their
credibility. In addition, given the rate of medical progress,
various new potential developments are expected to
surface from stem cell research in the future.
SEVERAL
ACQUISITIONS AND
PARTNERSHIPS
TRANSPIRED IN
FY2013. THESE
STRATEGIC MOVES
HELP PUT IN PLACE
KEY DRIVERS
TO PROPEL THE
GROUP FORWARD.
LOOKING AHEAD,
WE WILL CONTINUE
TO FOCUS AND
STRENGTHEN OUR
CORE BUSINESSES.
ASIAMEDIC LIMITED
ANNUAL REPORT 2013
04
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