KPJ HEALTHCARE EXPECTS DOUBLE-DIGIT GROWTH IN HEALTH TOURISM SECTOR THIS YEAR

KUALA LUMPUR, June 26 (Bernama) -- KPJ Healthcare Bhd is expecting to achieve double-digit growth in the health tourism sector this year.

Its president and managing director, Chin Keat Chyuan said the company’s health tourism sector grew by 41 per cent last year.

He said the value represents about 8.3 per cent, or RM190 million, of the total Malaysian health market share.

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“The market share is something that we are looking at, how are we going to grow and outgrow the market, and hopefully, that allow us to achieve double-digit market share.

“In the first five months of this year, we expanded rapidly... and we are on track to continue with this trend for the coming quarters,” he told a press conference after KPJ Healthcare’s 31st annual general meeting (AGM) here today.

For the financial year ended Dec 31, 2023 (FY2023), KPJ Healthcare reported revenue of RM3,419 million, a 19 per cent increase from the previous year.

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Profit before tax (PBT) rose by 37 per cent to RM378 million from RM275.1 million in FY2022.

Profit after tax (PAT) from continuing operations surged by 50 per cent to RM303 million, compared with RM202 million previously.

In a statement, it said that the success in 2023 was partly driven by five strategic pillars, namely asset optimisation, new sources of growth, digital-first, rebranding, and culture activation, which were introduced as part of its transformation journey.

Chin also announced the launch of their rebranding next month, which will focus on a patient-centric mindset.

“In the healthcare business, it is crucial to not only leverage technology but also to ensure that it significantly enhances the patient recovery journey. We need to ask ourselves if we are truly going above and beyond to excite our patients when they visit our hospitals.

“It is important to consider how patients perceive the value they receive in comparison to the services provided. Focusing on exceptional customer experience is something we must double down on to truly make a difference,” he said.

-- BERNAMA