In addition, the company enjoyed higher revenue from Wuxi Lippo Xi Nan hospital and its drug distribution business in China, led by higher demand for pandemic-related medical supplies.
OUE Lippo Healthcare says that its two hospitals in China are on track to begin operations. The Changshu China Merchants – Lippo Obstetrics & Gynaecology Hospital will begin business later this year, followed by the Shenzhen China Merchants – Lippo Prince Bay Hospital in 2024.
Both hospitals will be operated by a joint venture with China Merchants Group.
In Singapore, the company is in a joint venture with OUE and three medical specialist groups consisting of 11 doctors. The partnership started last June.
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No dividend has been declared, as the company prefers to conserve its cash to fund operations.
OUE Lippo Healthcare closed Feb 27 at 2.5 cents, down 3.85%.
