First quarter profits have slumped at Raffles Medical Group (RMG), the largest private medical group practice in Singapore, thanks to startup costs in China. Profits for the quarter fell 11.2% to S$13.7m (US$10.1m) on revenues that grew 6.7% to S$128.3m. The decline in profits is due to the startup costs at the 700-bed Raffles Hospital…
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