SGX Catalist-listed AsiaMedic Limited has expanded its diagnostic imaging capabilities through a strategic partnership with Sunway Equity Holdings Pte. Ltd. (“SEH”), a wholly owned subsidiary of Malaysian conglomerate Sunway Group. This collaboration was marked by the grand opening of their new state-of-the-art imaging centre at Royal Square in Novena this February.
The new nearly 6,000 sqft facility effectively doubles the Group’s diagnostic imaging capabilities, building upon the momentum of three consecutive years of revenue growth that culminated in a record-high performance for FY2023. With the centre now operational, the expanded capacity positions the Group to serve significantly more patients in FY2025 and beyond.
This expansion follows an impressive 72% growth in diagnostic imaging and radiology services revenue, which accounted for almost half of the Group’s total revenue for FY2023. The expansion is timely amidst strong demand across healthcare providers and growing referrals from clinics and hospitals.
The new Novena facility offers a comprehensive range of services, including advanced CT and MRI scans, mirroring the cutting-edge capabilities of AsiaMedic’s flagship Orchard Road centre. The Group’s commitment to technological leadership is demonstrated by its recent achievements, including being the first in Asia Pacific to operate the SIGNA™ Hero 3T MRI scanner and the first in Singapore to install the Revolution™ Apex Elite CT scanner.
The collaboration between AMC Healthcare Pte. Ltd., the Group’s wholly-owned subsidiary, and SEH, a wholly-owned subsidiary of Sunway Group – one of Southeast Asia’s leading conglomerates that also encompasses Malaysia’s largest integrated private healthcare group – brings strategic advantages beyond capacity expansion.
The centre’s strategic location at Royal Square in Novena, a major healthcare hub, positions it to serve a growing patient base while complementing the existing healthcare ecosystem and the Group’s existing integrated medical centre at Orchard Road. Beyond expanding patient access, the new centre also supports the Group’s doctor partners by providing streamlined access to diagnostic services and radiological consultation.
For investors, this development represents a major milestone in AsiaMedic’s growth story. The combination of AsiaMedic’s proven operational excellence, technological leadership, and strategic partnership with a major regional healthcare player puts the Group in a strong position in Singapore’s growing healthcare sector.
Just as regular health screenings are a smart investment in your well-being, savvy investors might want to keep this healthcare player on their watchlist.
To keep these insights at your fingertips, subscribe and share our update.
