Metro Healthcare to list on Leap Market

PETALING JAYA: Metro Healthcare Bhd plans to list on the Leap Market of Bursa Malaysia Securities Bhd in mid February 2018 and raise gross proceeds RM4.62 million via a private placement to sophisticated investors.
According to its announcement on the stock exchange, it intends to issue 20.08 million shares in the company, representing 10.01% of its enlarged issued share capital at 23 sen per issue share by way of private placement.
The gross proceeds will be used mainly for business expansion, as well as marketing and accreditation program and estimated listing expenses.
Upon listing, the market capitalisation of Metro Healthcare will be RM46.15 million.
The group’s vision is to become the leading women healthcare provider in Malaysia, specialising in reproductive medicine, obstetrics and gynaecology.
Moving forward, the group’s future plans and business strategies will centre on establishing Metro as a brand name and a centre of excellence for women healthcare in relation to reproductive medicine, obstetrics and gynaecology; building a pool of talented specialists, doctors and management staff; building the group’s network in Malaysia; and investing in modern and advanced technology.
The group said the continued upward ascendancy of the market is expected to be driven by a combination of factors such as the declining fertility rate afflicting the country, improving economy which will lead to greater spending, the fast expanding medical tourism market in Malaysia, active government participation, the various societal, cultural and familial pressures due to infertility, and, increasing awareness on the availability and efficacy of fertility treatment.
"As a consequence, we expect that demand for assisted reproductive services and the associated diagnostic testing and day care procedures will continue to rise."
Further, it is noted from Budget 2018 that Malaysia’s health tourism industry will be strengthen as one of the country’s sources of income. Amongst others, the government is allocating funds to the Malaysian Healthcare Travel Council to promote Malaysia as the Asian hub for fertility treatment (including IVF) and cardiology.
"We will continue to invest in our network of fertility clinics and also the specialist women services to enable the group to meet the demand from the local market. Recognising that the medical tourism has been going strong in Malaysia and fertility treatment is one of the main components in driving the growth of the medical tourism market, we will consider investment to further attract medical tourists from Middle East and Asean regions," said Metro Healthcare.