Established in 1976, Raffles Medical Group is one of Singapore’s largest private integrated healthcare providers.1 It operates a network of medical and dental facilities throughout the island, and provides specialised medical services such as evacuation and repatriation. In addition, the group is a shareholder Raffles Hospital and manufactures its own range of healthcare products. Raffles Medical has diversified into other business activities such as consultancy services.
Early history
In 1976, two friends, doctors Loo Choon Yong and Alfred Loh, opened two clinics in the Central Business District.2 At the time, their main aim was to offer medical services to corporate clients in the area. By 1989, the duo owned five clinics. It was around this time that they decided to incorporate the clinics as a medical practice group, known as the Raffles Medical GroupRMG.3
The company expanded in a big way after its incorporation. It began establishing itself in public housing estates in 1993, with its first neighbourhood clinic in Bishan. Other clinics were set up soon thereafter in other residential areas.4
It was also in 1993 when Raffles Medical opened Raffles SurgiCentre, the first standalone day surgery centre in Southeast Asia.5 The centre offered a range of diagnostic and laboratory services. It had health-screening facilities, a physiotherapy clinic, a children’s clinic and four operating theatres specialising in minimally invasive surgery.6
In 1995, the company established a 24-hour travel clinic in Singapore Changi Airport, followed by another travel clinic at Raffles SurgiCentre on Clemenceau Avenue.7 These were the first travel clinics in Singapore after the International Travel Clinic at the Communicable Disease Centre on Moulmein Road.8 The following year, Raffles Medical entered into an agreement with Kaiser Permanente – an American healthcare company and the world’s largest health-maintenance organisation – to undertake joint expansions in the Asia-Pacific region.9
In 1997, Raffles Medical Group became the first SESDAQ-listed medical group in Singapore.10 That same year, the group signed an agreement with Pidemco Land to jointly develop a hospital on North Bridge Road known as Raffles Hospital.11 The hospital commenced operations on 31 March 2001 and Raffles SurgiCentre was integrated into the hospital.12
Later developments
Today, Raffles Medical is an integrated private healthcare services provider in Asia. It operates medical facilities in 13 cities in China, Japan, Vietnam, Cambodia and Singapore.13 The group opened its first overseas clinic in 1995 in Hong Kong.14
Within Singapore, the group currently has over 50 medical clinics. It also operates medical laboratories, dental clinics and imaging centres.15 Besides local patients, Raffles Hospital also targets overseas patients who would typically visit well-known medical centres in Western countries. Raffles Hospital has seen international patients from more than 100 countries, and the group has established representative offices in Cambodia, Bangladesh, Indonesia, Myanmar, Russia and Vietnam.16
In addition to offering general and specialised medical and dental treatment services to the general public and corporate clients, Raffles Medical provides business management and consultancy services to help companies manage their healthcare costs.17 It also offers evacuation and repatriation services.18
In 2003, the company launched a subsidiary company, Raffles Health, which manufactures its own range of vitamins and health supplements.19 Other subsidiaries include Raffles Chinese Medicine, Raffles Health Insurance, Raffles Dental and Raffles Healthcare Institute.20
In 2015, the group earned 61 percent of its revenue from hospital services and 36 percent from healthcare services.21
Author
Naidu Ratnala Thulaja
References
1. Tan, L. E. (1997, March 11). Raffles Medical and Serial System get Sesdaq listing nod. The Straits Times, p. 48. Retrieved from NewspaperSG.
2. Lee, J. (1997, September 17). Going global the Singapore way. The Straits Times, p. 45; Seah, L. (1996, November 16). Health-care vision finds fulfilment 20 years on. The Straits Times, p. 8; Tan, L. E. (1997, March 11). Raffles Medical and Serial System get Sesdaq listing nod. The Straits Times, p. 48. Retrieved from NewspaperSG; Raffles Medical Group. (n.d.). Our heritage. Retrieved 2017, May 9 from Raffles Medical Group website: https://www.rafflesmedicalgroup.com/raffles-medical-group/our-group/about-us/our-heritage
3. Seah, L. (1996, November 16). Health-care vision finds fulfilment 20 years on. The Straits Times, p. 8. Retrieved from NewspaperSG.
4. Seah, L. (1996, November 16). Health-care vision finds fulfilment 20 years on. The Straits Times, p. 8. Retrieved from NewspaperSG.
5. First stand-alone centre. (1993, October 7). The Straits Times, p. 3; Seah, L. (1996, November 16). Health-care vision finds fulfilment 20 years on. The Straits Times, p. 8. Retrieved from NewspaperSG.
6. Seah, L. (1996, November 16). Health-care vision finds fulfilment 20 years on. The Straits Times, p. 8; Tan, L. E. (1997, March 11). Raffles Medical and Serial System get Sesdaq listing nod. The Straits Times, p. 48. Retrieved from NewspaperSG.
7. First stand-alone centre. (1993, October 7). The Straits Times, p. 3; New airport travel clinic to dispense drugs, advice. (1995, March 25). The Straits Times, p. 27. Retrieved from NewspaperSG.
8. New airport travel clinic to dispense drugs, advice. (1995, March 25). The Straits Times, p. 27. Retrieved from NewspaperSG.
9. Seah, L. (1996, November 16). Health-care vision finds fulfilment 20 years on. The Straits Times, p. 8. Retrieved from NewspaperSG.
10. Tan, L. E. (1997, March 11). Raffles Medical and Serial System get Sesdaq listing nod. The Straits Times, p. 48. Retrieved from NewspaperSG; Raffles Medical Group. (n.d.). Our heritage. Retrieved 2017, May 9 from Raffles Medical Group website: https://www.rafflesmedicalgroup.com/raffles-medical-group/our-group/about-us/our-heritage
11. Lam, J. (1997, March 21). Pidemco and Raffles Medical plan to set up hospital. The Business Times, p. 1; Yeo, P. L. (1997, September 13). RMG, Pidemco pair up for $200m project. The Straits Times, p. 67. Retrieved from NewspaperSG.
12. Raffles Medical Group. (n.d.). Milestones. Retrieved 2017, May 9 from Raffles Medical Group website: https://www.rafflesmedicalgroup.com/raffles-medical-group/our-group/about-us/milestones; RMG hospital ready for patients. (2001, February 28). The Straits Times, p. 21. Retrieved from NewspaperSG.
13. Raffles Medical Group. (n.d.). Our heritage. Retrieved 2017, May 9 from Raffles Medical Group website: https://www.rafflesmedicalgroup.com/raffles-medical-group/our-group/about-us/our-heritage
14. Seah, L. (1996, November 16). Health-care vision finds fulfilment 20 years on. The Straits Times, p. 8; Tan, L. E. (1997, March 11). Raffles Medical and Serial System get Sesdaq listing nod. The Straits Times, p. 48. Retrieved from NewspaperSG.
15. Raffles Medical Group. (n.d.). Clinic location listing. Retrieved 2017, May 9 from Raffles Medical Group website: https://www.rafflesmedicalgroup.com/family-medicine/clinic-location-listing
16. Raffles Medical Group. (n.d.). Representative offices. Retrieved 2017, May 9 from Raffles Medical Group website: http://www.rafflesmedicalgroup.com/international-patients/overview
17. Tan, L. E. (1997, March 11). Raffles Medical and Serial System get Sesdaq listing nod. The Straits Times, p. 48. Retrieved from NewspaperSG.
18. Raffles Medical Group. (n.d.). Ambulance transport & transfers. Retrieved 2017, May 9 from Raffles Medical Group website: https://www.rafflesmedicalgroup.com/24-hour-services/ambulance-service
19. Tee, H. C. (2003, June 1). Raffles Medical packs health in a bottle. The Straits Times, p. 8. Retrieved from NewspaperSG.
20. Raffles Medical Group. (n.d.). Subsidiaries. Retrieved 2017, May 9 from Raffles Medical Group website: https://www.rafflesmedicalgroup.com/raffles-medical-group/our-group/about-us/our-heritage
21. Raffles Medical Group. (n.d.). Celebrating 40 years of growth: Annual report 2015, p. 2. Retrieved 2017, May 9 from Raffles Medical Group website: https://www.rafflesmedicalgroup.com/docs/default-source/Annual-Reports/raffles-medical-group-annual-report-2015.pdf?sfvrsn=2
Further resources
Loh, H. Y. (2003, September 20). The business of medicine. The Business Times, p. 3. Retrieved from NewspaperSG.
Long. S. (1998, July 26). Doc serves his talents. The Straits Times, p. 3. Retrieved from NewspaperSG.
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