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China Cord Blood Corporation (CCBC), the country’s largest provider of cord blood storage and ancillary services, has reported a 38.7% rise in profits for the full year to 31 March of Rmb126.2 million (US$18.3 million). At the same time, revenues were up 14.6% to Rmb760 million.
Beijing-based Baheal Pharmaceutical Group plans to bring IBM Watson Health’s Watson for Genomics to clinicians across China. The new multi-year agreement comes less than three months after Baheal and IBM launched a strategic alliance to distribute Watson for Oncology in China. The plan is to establish an ecosystem within China to sell the molecular data interpretation technology to clinicians and researchers across the country. Financial terms have not been disclosed.
Medical insurance provider ALC Health has been confirmed as a Lloyd's Coverholder in Hong Kong. ALC Health, a subsidiary of global benefits and assistance services provider International Medical Group, has also opened an office in Hong Kong, appointing Harry Amende as business development executive.
Malaysian examination glove manufacturer Comfort Glove has reported a profit of M$10.1 million (US$2.4 million) for the first quarter of the year. This is a significant increase on the same period last year when the company was hit by a fire. Quarter-on-quarter, revenues were up 29% to M$93.7 million.
Thanks to listing costs, Hong Kong care home operator Pine Care Group has reported a 54.5% slump in profits for the year to 31 March to HK$12.4 million (US$1.6 million). At the same time, revenues were up 2.6% to HK$177.3 million.
Shares in Sydney-based medical appointment booking service 1st Group jumped 22.2% yesterday after the group announced an agreement with Australian leading health advertising and content provider, Tonic Health Media.
Shares in Australian medtech company Resonance Health rose 3.7% yesterday after Thalassaemia International Federation (TIF), a leading patient organisation in the field of iron overload, endorsed its technology which measures liver iron concentration.
US life science technology company Sanovas has agreed to set up a US$75 million venture capital fund and innovation centre with the People's Government of Suzhou. The centre will be based at the Suzhou Institute of Nanotechnology and NanoBionics (SINANO) at the Chinese Academy of Sciences located within the Suzhou Industrial Park Biotechnology Innovation Centre.



Analysis

Brisbane-based Oventus has had a good week. First and foremost the sleep disorder device manufacturer has just completed the first tranche of capital raising. It has raised A$6.5 million (US$4.9 million) in a placement of shares at A$0.36 per share. A second tranche to raise A$0.5 million will follow subject to shareholder approval. Bell Potter is managing the deal.
A new report from QBE Insurance, Australia's largest global insurer, reveals that 22% of healthcare companies in Hong Kong have suffered from legal and regulatory compliance issues over the past 12 months. The Risks of Regret report looks at both current and future business challenges and opportunities, and how well-prepared companies are to deal with risks.
“The Asia-Pacific region presents lucrative opportunities for multinational pharmaceutical firms that treat diabetes,” says BMI Research in Singapore in a new report on healthcare in Asia. Fuelled by rapid urbanisation, nutrition transition and increasingly sedentary lifestyles, the epidemic has grown in parallel with the worldwide rise in obesity. Asia’s large population and rapid economic development have made it an epicentre of the epidemic, with India and China the key hotspots in the region, it explains.
Susann Roth, senior social development specialist, Asian Development Bank, explains why the ADB is committed to doubling health sector investments by 2020.
SGX-listed private healthcare provider Health Management International (HMI) has reported an actual loss in profits for the third quarter of the year of M$1.6 million (US$370,000), though stripping out exceptional items, profits were up 12% to M$7.1 million. The loss was predominantly down to one-off fees of M$7.3 million incurred during the group’s M$556.5 million consolidation of its two hospitals in Malaysia, however profits were also eroded by M$1.3 million in forex losses thanks to a weakening ringgit.
Shares in Cayman Islands-incorporated G Medical Innovations, which develops mobile health technologies, declined heavily on their ASX debut yesterday, dropping 30%.
Singapore-listed property developer Perennial Real Estate has reported a 356% rise in profits for the first quarter of the year to S$38.7 million (US$27.5 million) thanks to divestment gains in Singapore. Revenues for the same period slumped 31.5% to S$20.2 million largely due to lower project management fees and lower rental revenue.
First quarter results from Indonesian healthcare companies have been subdued. There is a sense of marking time rather than any major move forward for any of them. Indeed with the exception of Siloam International Hospitals, the country’s largest private hospital operator, the share price of its healthcare rivals are all showing a loss for the year.


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Markets in Asia today were broadly higher, though there was pressure on Chinese exchanges after the banking regulator said that it intended to tighten up on corporate borrowings. “The attention of regulators has settled on large Chinese corporations and their overseas acquisitions,” said Jingyi Pan, market analyst for IG, in Singapore this morning. “For the speculative Chinese market, this may be reasons to sell even as the domestic impact remain limited,” she added. The Shanghai Composite was last seen down 0.75%. Elsewhere gains in the region were limited. Despite strong GDP figures, the Nikkei tempered an early rise and was up 0.13% while the ASX and the Hang Seng traded more or less flat. Key events to look out for next week include PMI figures from China, inflation figures from Singapore and Thailand’s current account.


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