Raffles Medical Group ended 2005 on an emphatic note, backed by robust performances by its key operating units, particularly the Hospital Services division.

Boosted by record high patient volumes and an influx of foreign patients at Raffles Hospital, the Group experienced a 11.3% growth in revenue to $112.9 million. This growth has more than compensated for the loss of contributions from SARS related projects in the preceding year.

Profit after tax for the Group rose 26.9%, from $9.5 million to $12 million - a record in our 30 years' history.

With Raffles Hospital recording its highest number of patient visits since its opening in 2001, improved occupancy and better facility utilisation, profit growth for the Hospital Services division surged 134.4% over the same period last year.

RafflesMedical's network of clinics has continued to contribute positively to the Group's performance.

With six new clinics opened in 2005, RafflesMedical Clinics maintain its position as the largest group of Family Medicine clinics in Singapore today.

Within the next year, the clinics will concentrate on strengthening its existing competencies.

More regional centres will be expanded into integrated medical centres, offering comprehensive services including specialist treatment, healthscreening services, laboratory services, x-ray and other diagnostic tests.

Excellent doctor-patient relationship will continue to be the cornerstone of the Raffles brand of care at our clinics, with more time devoted to understanding each patient's medical history and tracking of chronic illnesses.

Our experience with SARS has taught us to be ready for similar crises.

This preparedness has stood us in good stead during the dengue fever outbreak in September and the year-end flu season as we were able to respond to our patients' needs quickly and efficiently.

During the dengue outbreak, the Raffles 24-Hour Accident and Emergency Department saw more cases daily and warded a number of dengue patients. All were treated and discharged. The Raffles Laboratory worked round the clock to run serologic tests for dengue fever.

The seasonal rush for flu vaccination in the last quarter of 2005 was compounded by the fear of an impending Pandemic Flu outbreak as highlighted by the World Health Organisation.

With a four-fold increase in demand for flu vaccination, the Healthcare Services division worked with various suppliers to ensure that there was a constant supply of flu vaccines. Raffles doctors also organised Business Continuity Planning (BCP) talks to corporate clients and the Corporate Services department published influenza health news bulletins and updates which were circulated to corporate clients.

Raffles Hospital saw record growth to both its inpatient and outpatient numbers.

A significant portion of this growth came from the international patients market, which saw its contribution to revenue increase by more than 50%. This is poised to expand even further as the international marketing team makes greater inroads into existing and new markets.

Currently, 34% of our patients are foreigners, comprising nationals from approximately 100 counties. Patients from core markets such as Indonesia and Malaysia have increased and the Hospital has also seen an emergence of exciting new markets like Bangladesh, Myanmar, Korea, the Indian Subcontinent and the Russian Far East.

While staying competitive with regional countries in offering "health tourism" packages, which are mostly low-cost surgeries combined with holidays, Raffles Hospital also aims to maintain Singapore's leadership as a regional healthcare hub by providing more complex procedures such as renal transplants, cancer treatment and heart surgeries.

In 2005, Raffles Hospital achieved broad based growth with recruitment of more specialists, developing and packaging of new specialist services, and investment in advanced medical technologies.

Group Practice continues to be a draw among specialists who share the conviction of team-based practice as a model for assuring quality medical care for patients. In 2005, Raffles Hospital recruited 12 new specialists in different disciplines including general surgery, paediatrics, obstetrics and gynaecology, oncology and orthopaedics.

With continued growth in the Raffles talent pool came new centres and expansion of services.

The new Raffles Orthopaedic Centre officially opened in June 2005, bringing together medical and surgical expertise that provide patients with a one-stop solution for all their orthopaedic problems. With a growing team of orthopaedic consultants, the Centre now offers a wide range of sub-specialty services in orthopaedics such as spine disc replacement surgery and hand surgery.

Surgical weight management - lap banding and intragastric balloon - became a real prospect for Raffles' patients with the recruitment of two experienced general and laparoscopic surgeons who offer a spectrum of solutions for overweight patients.

With two new Obstetrics & Gynaecology specialists joining the Group, Raffles Women's Centre is now 8-specialists strong, distinguishing it as the largest private O&G specialist practice in Singapore today. In 2006, the Centre plans to launch its fourth outreach clinic in Causeway Point, and a fertility service for a growing number of patients requiring assistance with conception.

Raffles Children's Clinic also enjoyed a boost with the recruitment of two new Paediatricians. The Clinic operates 365 days - including Sundays and public holidays, as well as evening clinics on all working days - to offer parents the reliability of medical care after the normal operating hours of other clinics.

The Raffles Japanese Clinic saw an increase in its patient base, as more and more of the 24,000-strong Japanese community in Singapore, as well as Japanese residing in the region, come to recognise its special brand of personalised care. Two new Japanese specialist doctors have joined the clinic to meet the specialised needs of this growing group of patients.

The Aesthetics Centre expanded its service offerings with the launch of new technology such as the Titan Skin Lifting technique for sagging skin and the CoolGlide Laser Vein therapy to ablate ugly veins. It also started its Weight Management programme which draws on a team of specialists - including endocrinologists, bariatric surgeons, plastic surgeons, dermatologists, dieticians, physiotherapists, and acupuncturists - to offer a complete range of weight management services.

Raffles Cancer Centre grew 800% in patient numbers over the year. The Centre developed genetic screening programmes, genetic counselling, genetic risk screening packages and agreement with Cancer Institute to do radiotherapy services. Our affiliation with Memorial Sloan-Kettering Cancer Centre, the premier cancer research center in the world, ensures that our patients receive the best care for cancer.

Raffles Heart Centre saw the addition of another new interventional Cardiologist in January 2005. This translated to a substantial increase in the number of Coronary Angiograms and Percutaneous Transluminal Coronary Angiograms which increased two-fold and four-fold respectively.

To serve our patients better, Raffles Hospital acquired the revolutionary 64-Slice CT Scanner which allows for ultra fast imaging of the heart, coronary arteries, head, colon and lung without the need for invasive procedures such as an angiogram.

International Medical Insurers (IMI), the Group's insurance business division, has been steadily offering healthcare financing solutions to both local and overseas clients in its first year since inception.

IMI can tailor-make plans to suit the needs of its clients, be they corporations or individuals and their family members. These include Portable Medical Benefits for corporate clients, as well as long-term health insurance products to complement the MediShield plans.

As we grow as a Group, we will actively explore healthcare opportunities to grow our business in Singapore and the region.

This year, the Jakarta Representative Office will be upgraded into a Medical Centre to to serve our Indonesian patients better.

Within the next few years, the Group plans to set up more of such centres in major cities of Indonesia.

We will also establish Representative Offices in Vietnam, Myanmar, Sri Lanka and India.

As we move into the region, we will bring better healthcare to more communities. We will also continue to use our skills, experience, medical and financial resources to serve the sick and underprivileged.

This humanitarian spirit was manifested through the three relief missions we sent last year to the disaster-hit zones of Aceh, Nias and Pakistan.

This was coordinated and managed by the Asian Medical Foundation, a charity set up by Raffles Medical Group. The Foundation is committed to adopt more charities and send more humanitarian missions in the years to come.

Serving the community - be it in the form of treating our patients at our family medicine clinics, or at Raffles Hospital, or even doing disaster relief work beyond our shores - has always been the reason for our existence.

It will continue to be the driving force in our growth ahead.