This article first appeared in The Edge Financial Daily on July 19, 2018
PETALING JAYA: TMC Life Sciences Bhd, which is controlled by Singaporean billionaire Peter Lim Eng Hock, is looking to double its revenue by 2020 driven by the expansion of its rebranded Thomson Hospital Kota Damansara (THKD), which was formerly known as the Tropicana Medical Centre.
The group had reported a revenue of RM81.4 million for the first half of the financial year 2018 ended Feb 28, 2018, up 14% compared with a year ago. Net profit grew 22% to RM11 million.
TMC Life Sciences Group chief executive officer and executive director Roy Quek Hong Sheng said that at present, THKD contributes 80% to the group’s revenue with the balance coming from its fertility centres.
“At 200 beds, our [revenue] is at this level. We expect this [to at least double] with all the beds being progressively commissioned,” he told a press conference yesterday in conjunction with THKD’s rebranding and pile-capping ceremony for the hospital’s expansion.
The current THKD building is built on one-third of a six-acre (2.43ha) land. The new expansion occupies another one-third of the land, leaving another two acres for future development.
The expansion project is expected to be completed by 2020, with a full capacity of 600 beds, 10 state-of-the-art operating theatres, 10 centres of excellence and an advanced imaging centre and more than 100 specialist clinics, among others.
As part of the rebranding, the group unveiled a new logo and identity for Thomson Hospital.
THKD chief executive officer and TMC Life Sciences Group chief corporate officer Wan Nadiah Wan Mohd Abdullah Yaakob said the rebranding exercise is timely and in sync with the group’s plans to expand its foothold both locally and internationally.
“We changed the name from Tropicana Medical to THKD effective July 1. The rebranding was mainly due to the corporate exercise at the headquarters level where our parent company was relisted as Thomson Medical Group Ltd in Singapore, so of course we want to be in line with that vision of growing the Thomson name,” she said.
“Here in THKD, we will soon be having [an additonal] 400 beds, and 500 beds are in the pipeline for our Thomson Iskandar Medical Hub in Vantage Bay, Johor, making it a total of 1,100 beds, and [making the group] one of the largest private healthcare providers in Malaysia.
“We aim to be a full-fledged tertiary hospital and we want to be the brand that our patients trust and go to when they require medical attention. For hospitals are not just about driving revenue and having a better cost base, but it is also about attracting the best to come to work with us. We will be looking to recruiting the best specialists because it is not just about being the biggest [hospital], but about the quality of the care and that is how we wish to position ourselves,” she added.
Wan Nadiah said the group plans to start piling works for the hospital in Johor next month, which forms part of its medical hub.
“We are in discussions with the ministry of health on the internal layout and design of the building. We aim to complete the Johor hospital by 2021,” she added.