Livingstone Health posted $3m net profit due to higher patient volume

This is a shift from the firm’s net loss of $16.8m in 2021.

Amidst a rise in patient volume and reopening of borders, Singapore-based healthcare group, Livingstone Health Holdings Limited, recorded a $3m net profit in the fiscal year of 2022, compared to a net loss of $16.8m in 2021.

In a company announcement, Livingstone Health said its revenue also grew by 41% to $34.1m, which ended 31 March this year, compared to $24.3m for 15 months that ended 31 March 2021.

Its revenue growth came after there were higher contributions from its segments and the hiring of new doctors as well as adding new specialisations.

The segments include anesthesiology and pain management segment added a doctor whilst patient volume in the aesthetics and wellness segment increased following the easing of pandemic-related restrictions.

The firm’s expenses for employee benefits and medical supplies increased 49% to $17.5m and 59% to $6.8m.