Management said that its healthcare services subsidiary, ParkwayShenton (unlisted), was awarded the border H1N1-screening contract, with a potential top-line contribution of S$2-3mn/month. The group also has seen minimal impact on patient volume despite the H1N1 situation. Management guided its patient volume has recovered in June, with flat revenue growth y-y. Revenue intensity, however, has not improved.
Malaysia. The group’s Pantai Hospital (unlisted) is looking to grow its top line by 20% to 30% annually and plans to expand by about 1,000 beds to 3,300 beds in Malaysia. The group is building a new 300,000-sf block at Pantai Hospital in Bangsar, of which 150,000sf will be medical suites for sale. China. Through Worldlink (unlisted) (Parkway Health China), Parkway will add two more clinics to its current six and add three more dental locations in Shanghai.
The group is looking to market the Novena medical suites to doctors, who currently do not own their medical suites. Parkway is looking to sell the first phase with 88 units out of a total 200 units (200,000sf) when it receives approval, which is slated in 2H09.
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