Its expansion plans this year include acquiring SSH Care, which has a women’s specialist clinic
By FARA AISYAH / Pic By AFIF ABD HALIM
Metro Healthcare Bhd targets over 10% growth in revenue this year, after making its debut at 28 sen on Bursa Malaysia’s LEAP Market yesterday.
The women healthcare provider is the fourth company to enter the new capital-raising platform for small and medium enterprises (SMEs) since it was launched in July last year.
Metro Healthcare MD Lim Wai Khong said the company’s expansion plans this year include acquiring SSH Care Sdn Bhd, which has a women’s specialist clinic in Melaka, and establishing a new women’s specialist clinic in Johor Baru.
“After the listing, we will acquire the Melaka specialist clinic and upgrade it to a reproductive medicine ambulatory care centre, whereas we will set up a new women’s specialist clinic in Johor Baru.
“Based on our existing trend, we will expect the company’s revenue growth to be more than 10% year-on-year,” Lim told reporters at a press conference after the listing ceremony in Kuala Lumpur yesterday.
The company has a combined capacity of 1,000 cycles for two of its in-vitro fertilisation (IVF) centres in Klang and Puchong.
Lim said the company expects to increase its capacity by about 300 cycles with the new facility in Melaka.
Metro Healthcare was founded in 1989 when its executive chairman Dr Tee Swi Peng launched his first private maternity centre named Tee Maternity and Gynae Specialist Centre at Jalan Pasar, Klang under sole proprietorship.
The company then has grown to three hospitals, three ambulatory care centres and four clinics to date.
According to Metro Healthcare’s listing information memorandum on Bursa Malaysia, the company placed 20.08 million shares to raise gross proceeds of RM4.62 million.
RM3.42 million from the proceeds are allocated for a 24-month period of business expansion including the plans in Melaka and Johor Baru, while RM300,000 will be used for its marketing and accreditation programme within 12 months.
Meanwhile, Bursa Malaysia Bhd CEO Datuk Seri Tajuddin Atan said Metro Healthcare’s listing on the LEAP (Leading Entrepreneur Accelerator Platform) Market will mark an important juncture for the company in achieving its vision of becoming the leading women healthcare provider in Malaysia.
Tajuddin said in the long term, the potential levers that will drive the future growth of the company’s business including the country’s medical tourism industry, among others.
“If I were to focus on medical tourism, it is to your (Metro Healthcare) advantage the government has announced plans in Budget 2018 for the Malaysia’s tourism industry to be strengthen as one of the country’s sources of income.
“Malaysia will be promoted as an Asian hub for fertility treatment, including IVF treatment, which resonates well for an established company such as Metro Healthcare, given that its first IVF baby was successfully conceived and born 18 years ago,” Tajuddin said.