+ Huge growth in mobile and digital health services. Revenue more than tripled, while pretax profit increased from S$24k in 1H21 to US$1.2mn in 1H22. Higher revenue was due to Jaga-Me’s involvement in provision of Covid-19 related medical services, including home swabs, onsite vaccines and telemedicine consultations for home recovery programme.
+ GP clinics recorded steady growth. Revenue from GP clinics increased 27%, while pretax profit more than doubled. The easing of Covid-19 restrictions resulted in more patient visits at GP clinics.
- Managed healthcare services recorded net loss. Net loss in 1H22 deepened to S$167k, from S$126.3k, as patient volume has yet to return to pre-Covid level.
- Decreased revenue and profit contribution from pharmaceutical services. There was reduced demand for medical supplies from certain hospitals, after the stocking in 1H21.
Alliance Healthcare is committed to strengthening its digital technology capabilities to remain in the forefront of an increasingly digitalised healthcare sector, especially in a post-Covid world. Digitalisation in healthcare provides cost-effective, time-saving and quality healthcare.
Established in 1994, Alliance Healthcare is a reliable medical brand with both in-house and GP specialist clinics, and specialises in corporate health solutions. They are also a wholesale pharmaceutical company facilitating timely access of medications to the region, and a progressive healthcare company making quality medical care within reach through mobile and home care service.
Managed healthcare solutions. Under Alliance MediNet, AHG offers medical services to employees of corporations and insured members of policy holders. Through arrangements with 8 insurers, AHG serves almost 3,700 corporations through their network of over 1,000 medical services providers within the Alliance Healthcare network. This includes GP and specialist clinics, private and public hospitals, etc. AHG collects an admin fee for every claim.
GP clinic services. AHG operates GP clinics under the name of “My Family Clinic”, providing medical services to individuals, with 16 clinics situated all around Singapore.
Specialist care services. AHG provides medical diagnosis and medical or surgical treatments of colorectal, ENT and orthopaedic conditions. With the newest addition of the orthopaedic clinic which commenced operations in December 2018, there are a total of five specialist clinics under AHG’s belt.
Pharmaceutical services. AHG engages in wholesale distribution of pharmaceutical products to hospitals, pharmacies and clinics in Singapore and other overseas markets.
Mobile and Digital Health Services. AHG provides quality medical care within reach through mobile and home care services. In April 2020, AHG launched HeyAlly, which is a digital health and telemedicine platform, revenue is earned from the provision of on-demand medical advice through tele-consultation. Jaga-Me Pte Ltd is a mobile health company, which AHG acquired 55% interest in January 2020. Through this app, patients could get access to healthcare services at the comfort of their homes or workplace, through the digital platform. Revenue is derived from the provision of home care nursing services, rental of medical equipment, provision of telemedicine consultations and onsite vaccination.
Revenue from Managed Healthcare Solutions and GP Clinic Services recorded decline or similar levels of revenue due to lower patient volumes since the onset of the Covid-19 pandemic.
Revenue from Pharmaceutical services was on an uptrend since FY19 due to an increase in demand for medical supplies from local hospitals stocking up to anticipate any supply chain disruption (Figure 2).