IHH aims to achieve balance, focus and scale
KUALA LUMPUR: IHH Healthcare Bhd has three strategic priorities for the year ahead — to achieve balance, focus and scale, to ensure the execution of growth plans and to integrate and consolidate newly-acquired assets, especially Fortis Healthcare Ltd.
Outgoing managing director and chief executive officer Dr Tan See Leng said the group’s efforts to turn Fortis around were starting to pay off.
“You would have seen in Fortis’ fourth-quarter results. For the first time, it reported an operational profit before tax. I am pleased to share that we achieved the targets in our 100-day plan for Fortis.
“You would also have seen from IHH’s first-quarter results that Fortis is contributing to our revenue and earnings. We expect Fortis to be accretive for years to come.
“Needless to say, I will be working closely with the board to ensure a seamless leadership transition. Rest assured that the group will be in good hands and we will continue to execute what has made IHH successful all these years.
“I remain fully confident about the group’s prospects and look forward to witnessing its growth as a friend even after I leave my position,” he said during a luncheon, here, yesterday.
Dr Tan’s contract expires on December 31.
He said IHH had reinforced its position as the largest healthcare provider in Asia.
“In our four home markets of Malaysia, Singapore, Turkey and India, we have strengthened our core competencies and competitive edge. We will also continue to execute plans for Greater China. One of the key milestones last year was the acquisition of Fortis. As its biggest shareholder, we are now the second-largest private healthcare provider in India, one of the fastest-growing markets in the world.”
Meanwhile, chairman Datuk Mohammed Azlan Hashim said in the almost seven years since the group’s initial public offering, it had delivered consistent financial and operational growth while generating value for stakeholders.
“From our roots in Malaysia, IHH is now a truly international provider of best-in-class healthcare, with a footprint of 83 hospitals across 12 countries.
“Through recent acquisitions and new projects in attractive markets, including India, we have further paved the way for IHH to enjoy continued growth for years to come,” he said.