Raffles Medical's China rollout faces growing pains
CHINA is the place to be, but a tough market to crack.
Raffles Medical Group (RMG) shares are down 7 per cent since the private healthcare provider opened its first hospital in China in January.
Start-up losses at Raffles Hospital Chongqing have been well-contained. Management expects the new hospital to break even on an Ebitda (earnings before interest, tax, depreciation and amortisation) basis in 2021.
But for the China growth story to take off, RMG needs to do more than kee...