AsiaMedic Reports 26% Revenue Growth to S$16.6 million in 1H2025

SGX Catalist-listed AsiaMedic Limited (the “Company” and, together with its subsidiaries, the “Group”) announced its unaudited financial results for the six months ended 30 June 2025 (“1H2025”), delivering 26 percent year-on-year revenue growth to S$16.6 million, up from S$13.2 million in 1H2024.

This performance was led by the Group’s diagnostic imaging business, which contributed over 60 percent of total revenue, supported by strong demand at its flagship Shaw Centre clinic and contributions from the newly opened Novena imaging centre.

Financial Highlights:

• Revenue up 26 percent to S$16.6 million, from S$13.2m in 1H2024, driven by strong growth in diagnostic imaging and steady performance in medical wellness.
• EBITDA attributable to owners of the Company was maintained at S$1.3 million, reflecting consistent contributions from core businesses, even as the new Novena centre incurred ramp-up losses.
• Net loss attributable to owners of the Company narrows significantly to S$38,603 from S$104,431 in 1H2024.
• Cash and cash equivalents stood at S$4.9 million, with an additional S$3.6 million in financial assets, reflecting strong underlying liquidity despite investments into Novena centre.

Profitability was significantly affected by the new Novena imaging centre as it remains in its ramp-up phase. However, the Group’s financial performance reflects solid execution of its core business strategy amidst expansion.

Also Read: Southeast Asia Is the Next Global Manufacturing Hotspot - What You Need to Know

Arifin Kwek, Chief Executive Officer of AsiaMedic, said, “Our performance in the first half of 2025 reflects the continued strength of our diagnostic imaging business. Shaw Centre remained our primary growth engine with sustained patient volumes, while the newly opened Novena Centre, though still ramping up, has already begun contributing. These investments will further position us as a trusted provider of early detection and preventive care in Singapore.

Our health screening and medical wellness segment remained stable, underpinned by the government awarded Grow Well SG programme and steady corporate wellness demand. While the opening of Novena has added to our cost, these are deliberate investments in capacity, technology, and skilled professionals in a key medical geographical location in Singapore, that position us for long term growth.

We will continue to build on this foundation, focusing on scaling our imaging and health screening businesses while ensuring we deliver high quality, patient-centred care. With expanded capacity and prudent cost management, AsiaMedic is well placed to capture growth opportunities in Singapore’s healthcare sector.”

As Singapore continues to position itself as a regional healthcare hub, AsiaMedic is well-placed to meet growing demand for accessible, high-quality diagnostic and preventive healthcare services. With established centres in Orchard and Novena — two of the country’s key medical precincts — the Group is strategically expanding its reach to serve a broader patient base. This geographic presence, supported by ongoing investments in technology, infrastructure, and clinical talent, positions AsiaMedic to play a meaningful role in advancing Singapore’s preventive care and early detection agenda.

This media release should be read in conjunction with the financial statements announced on SGXNet.