Town Health International Medical Group (3886) recorded a 1.4 percent growth in first-half net profit to HK$12.9 million, partly driven by a decrease in finance costs.
Excluding the gains and losses outside of its ordinary course of business, the medical group’s operating profit would have been HK$42.4 million, up 8.8 percent from the year prior, according to a filing.
Chairman and chief executive Karson Choi Ka-tsan said he maintains a prudent yet positive outlook on the long-term development of the healthcare markets in Hong Kong and the mainland.
In the future, on the premise of rigorous risk management, the firm will upgrade its healthcare service portfolio and network to meet the health needs of more than 88 million residents in the Greater Bay Area, Choi said in the filing.
It stands ready to integrate existing healthcare resources across its various business segments in the city and the mainland to build a full-cycle, integrated, and one-stop healthcare service ecosystem, the filing said.
Town Health’s revenue for the period dipped by 2.7 percent to HK$876.4 million, of which revenue from local medical services and local managed medical network business was HK$340 million and HK$220 million, respectively.
The continued cautious local consumer sentiment and sustained trend of cross-border consumption and medical treatment among residents imposed certain pressures on the private healthcare sector, it said.
To improve operational efficiency and the efficiency of resource allocation, the group has optimized the network layout of its medical services in the SAR, it noted. By adopting a three-pronged approach consisting of optimizing the layout of the medical center network, expanding professional teams, and boosting technological adoption, it will provide a more convenient, coherent, and valuable medical service experience.
Town Health had 415 healthcare service points covering general practice, specialist, dental, and auxiliary services, with a total of 792 doctors, dentists, and auxiliary service staff as of June.
Revenue from mainland hospital management and medical services grew 9 percent to HK$311 million, despite multiple challenges including medical resource integration, cost control, and service upgrading, the group said.
