SINGAPORE (May 26): IHH Healthcare Bhd, the private healthcare provider, reported 1Q earnings rose 37.3% to RM235.5 million (S$79.4 million) from a year ago on stronger revenue performance.

Revenue for the three months ended March rose 24% to RM2.48 billion a year ago on sustained organic growth at existing hospitals across all home markets and the continued ramping up of newer hospitals.

Parkway Pantai, the group’s largest operating subsidiary, reported a 30% improvement in revenue and 26% growth in EBITDA from a year ago.

This was mainly due to the continued ramping up of Mount Elizabeth Novena in Singapore, contribution from the newly opened Gleneagles Kota Kinabalu Hospital and Gleneagles Medini Hospital in Malaysia, and the consolidation of results from newly acquired Continental and Global Hospitals in India.

Acibadem Holdings, Turkey’s largest private healthcare provider by registered beds, also reported a 14% growth in revenue and a 7% increase in EBITDA.

ParkwayLife REIT, which has a portfolio of 47 healthcare‐related properties as at end March, reported a 36% gain in external revenue.

“The acquisition of Continental Hospitals in March 2015 and Global Hospitals in December 2015 in India also contributed to the Group’s revenue in the first quarter of 2016,” says IHH in its filing.

In April, Acibadem signed agreements to enter the Bulgarian market by acquiring 100% of Tokuda Group and merging with City Clinic.

Shares of IHH Healthcare closed three sen or 0.46% lower at RM6.52 today.