KUALA LUMPUR: IHH Healthcare Bhd has set out three strategic priorities in the year ahead – to achieve balance, focus and scale, to ensure well execution of growth plans and to integrate and consolidate newly-acquired assets, especially Fortis Healthcare Ltd.
Outgoing managing director (MD) and chief executive officer (CEO) Dr Tan See Leng said the group’s discipline efforts at turning Fortis around were starting to pay off.
“You would have seen in Fortis’ fourth quarter (Q4) results that for the first time, it has reported an operational profit before tax. Indeed, I am pleased to share that we achieved all of our targets in our 100-day plan for Fortis.
“You would also have seen from IHH’s Q1 results that Fortis is contributing to our revenue and earnings. We truly expect that Fortis will continue 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 on what has made IHH successful all these years.
“I remain fully confident about the group’s prospects and look forward to witnessing its continued growth as a friend even after I leave my position,” he said in his speech during a media luncheon here, today.
Dr Tan will be leaving once his contract expires on December 31, 2019 after serving as group MD and CEO since January 2014.
He said IHH had reinforced its position internationally as the largest healthcare provider in Asia.
“In all our four home markets – Malaysia, Singapore, Turkey and India – we strengthened our core competencies and competitive edge. We also continue to execute on our plans for Greater China.
“One of key milestone last year is our transformational acquisition of Fortis. As its biggest shareholder, we are now the second largest private healthcare provider in India, one of the fastest growing markets for healthcare in the world,” he said.
IHH chairman Datuk Mohammed Azlan Hashim said in the almost seven years since the group’s initial public offering (IPO), 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.
“This is underpinned by our commitment to sharpening our service offerings while tapping on innovation and technology to stay ahead of the curve,” he said.