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95 replies to this topic | 563 praises

#1

Posted 14 March 2017 - 08:25 AM

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http://www.straitsti...oup?xtor=CS3-20

Sinking ship... Anchor doctors not turning up for work already due to not being paid.

#2

Posted 14 March 2017 - 08:38 AM

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http://www.straitsti...oup?xtor=CS3-20

Sinking ship... Anchor doctors not turning up for work already due to not being paid.

 

Wah this one so jialat...

 

When did the group start to get into trouble? It was growing and expanding so rapidly last time. Came out to rival Raffles group, i recalled...


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#3

Posted 14 March 2017 - 08:48 AM

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Wah this one so jialat...

When did the group start to get into trouble? It was growing and expanding so rapidly last time. Came out to rival Raffles group, i recalled...

It's never been particularly well run.

My friend worked for them for one year plus before.

The major difficulties started few months back liao.

#4

Posted 14 March 2017 - 08:50 AM

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http://www.straitsti...oup?xtor=CS3-20

Sinking ship... Anchor doctors not turning up for work already due to not being paid.

 

And I always thought healthcare is a pretty safe industry as whether economy up or down, people will always get sick, injured or old....didn't think will have ppl "gambling" with company funds behind the scene...


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#5

Posted 14 March 2017 - 08:54 AM

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http://www.straitsti...oup?xtor=CS3-20

Sinking ship... Anchor doctors not turning up for work already due to not being paid.

Why this in MAkan icorner?

Kanna nakan?

RESPECT is only for the DEAD!

#6

Posted 14 March 2017 - 08:54 AM

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See the last year's Aug report. http://www.straitsti...ad-of-q2-report

 

 

Four directors of Healthway Medical Corp (HMC) have quit suddenly ahead of the firm's second-quarter results release, citing various reasons.

It is unusual for half of a company's directors to leave at once, but independent director Sonny Yuen said the board reconstitution had been planned for the last couple of months. "The board churn is part of succession planning," he told The Straits Times last night.

Two of the firms' four remaining directors are new. Independent director Moses Lin, a senior associate at law firm Hill Dickinson, joined the board last week. Independent director Ho Sun Yee, former chief executive of the Singapore Heart Foundation, joined last month.

Meanwhile, group president Andrew Wong, who is on gardening leave, will resign at the end of the month after just six months on the job. The role is similar to that of a chief executive officer.

Mr Wong's predecessor, Mr Yeow Ming Ying, had resigned as president of the Singapore medical services division in March to pursue other interests. He stayed on as a non-executive director before quitting on Wednesday, according to filings to the Singapore Exchange near midnight that day.

The other independent directors who quit on Wednesday are Mr Pee Tong Lim and Mr Syed Abu Bakar S Mohsin Almohdzar, who left "of (their) own accord" after more than four years on the board. Ms Kuek Chiew Hia resigned of her own accord after serving more than eight years.

HMC has also changed financial controllers three times in the past 21/2years, though Mr Yuen said this is normal in today's labour market.

Shares in HMC, one of Singapore's largest private clinic networks, are thinly traded and have plunged 48 per cent over the last year to close at three cents yesterday.

The firm reported a net profit of $580,000 in the three months to March 31, down 83.5 per cent from a year earlier. Notably, HMC is owed $64 million from an unrelated "Party A", recorded as a loan receivable on its balance sheet.

HMC said in May that it plans to exercise a pre-existing option to acquire Party A, which owns medical clinics here. The $64 million that Party A has not repaid HMC will count towards the purchase consideration.

HMC made $4.2 million from management and administrative services rendered to Party A last year, according to its annual report.

Mr Yuen declined to comment on the deal with Party A ahead of HMC's earnings release, but the description of Party A is similar to that of former HMC unit Healthway Medical Enterprises, going by the past financial statements of both companies.

HMC sold this entity for just $2 million to a Mr Yeo Kay Beng in December 2010. It did not say how many properties were transferred to Mr Yeo as part of the deal. HMC also did not say how much of the money owed can be recovered.

Chairman Eric Wong Ong Ming, who could not be reached, is a former director of Healthway Medical Enterprises.

He took over at HMC from Mr Fan Kow Hin in May last year.

 

So many directors quit suddenly. And the link said as if the group is trying to aquire 1 or 2 other smaller companies.

 

 

 

 

 

HMC, one of Singapore's largest private clinic operators with close to 50 family clinics, is in a liquidity crunch after losing millions of dollars in questionable loans to two entities. The SGX has called for an independent review of these loans

http://www.straitsti...oup?xtor=CS3-20


Edited by Watwheels, 14 March 2017 - 09:02 AM.

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The chosen one will bring balance to the Force...I mean Singapore. Even star wars do not reserve "the chosen one" to a sith lord or a jedi or a wookie.

#7

Posted 14 March 2017 - 08:57 AM

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Heng I din join

Was asked to run a fleet of clinics then but they cud not pay what I wanted so left it at that

No strong vision

RESPECT is only for the DEAD!

#8

Posted 14 March 2017 - 09:05 AM

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And I always thought healthcare is a pretty safe industry as whether economy up or down, people will always get sick, injured or old....didn't think will have ppl "gambling" with company funds behind the scene...

I too thought like that, that if buy such counters should be safe. But in the end I never did buy.



#9

Posted 14 March 2017 - 09:06 AM

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I too thought like that, that if buy such counters should be safe. But in the end I never did buy.

 

I was thinking more in terms of job security haha....



#10

Posted 14 March 2017 - 09:07 AM

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It's never been particularly well run.

My friend worked for them for one year plus before.

The major difficulties started few months back liao.

 

Aiyoh... see/treat patients is a noble profession.

 

Let these people manage until like this. Gone case liao lor...

 

One thing I'm curious about: I think most clinics will keep their patients' records for a good number of years. Is there a MOH guideline or requirement on how many years?

 

And then if the clinic were to close, and no-one took over, what will happen to the medical records? Can the regular patients ask for them back so as to bring to another clinic for better/easier follow-up management? This will allow the new clinic/doctor to have a better understanding of the patient's medical history/record. Else if the closed clinics don't allow, it's a big waste. And the patient will lose out, as often when the patient grows old, might also forgot what illness struck them at which year and what were the symptoms/treatments and what worked or not...

 

Dunno whether this will happen for Healthway.



#11

Posted 14 March 2017 - 09:11 AM

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Aiyoh... see/treat patients is a noble profession.

Let these people manage until like this. Gone case liao lor...

One thing I'm curious about: I think most clinics will keep their patients' records for a good number of years. Is there a MOH guideline or requirement on how many years?

And then if the clinic were to close, and no-one took over, what will happen to the medical records? Can the regular patients ask for them back so as to bring to another clinic for better/easier follow-up management? This will allow the new clinic/doctor to have a better understanding of the patient's medical history/record. Else if the closed clinics don't allow, it's a big waste. And the patient will lose out, as often when the patient grows old, might also forgot what illness struck them at which year and what were the symptoms/treatments and what worked or not...

Dunno whether this will happen for Healthway.

The EMRx platform allows for that but not sure if healthiest is on it

The central db allows for sharing of data and medical tests so that there is no need for repeat

You can see your own results thru healthub.sg using singpass if you had any test in public hospitals recently
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RESPECT is only for the DEAD!

#12

Posted 14 March 2017 - 09:15 AM

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i have Healthway at my hdb block
i thought they are doing well
how come so jialat huh
every neighbourhood clinic sibei crowded and biz sibei good
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#13

Posted 14 March 2017 - 09:16 AM

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i initially thought they were part of Parkway group  [sweatdrop]  [sweatdrop]

 

my wife ex-company use them as company clinic, but she refuse to go there firstly due to the few inconvenience location, secondly Healthway sounds like H*llway   [laugh]  [laugh]


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#14

Posted 14 March 2017 - 09:17 AM

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i have Healthway at my hdb block
i thought they are doing well
how come so jialat huh
every neighbourhood clinic sibei crowded and biz sibei good

Cum mcf better haaaaa

RESPECT is only for the DEAD!

#15

Posted 14 March 2017 - 09:18 AM

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Quite surprising , i always thought of them as well established considering the numbers of clinics that they had set up...


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#16

Posted 14 March 2017 - 09:19 AM

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The EMRx platform allows for that but not sure if healthiest is on it

The central db allows for sharing of data and medical tests so that there is no need for repeat

You can see your own results thru healthub.sg using singpass if you had any test in public hospitals recently

 

what about GP clinics like these Healthway ones, as well as those standalone clinics in the neighbourhood estates? I think their biz must be good to have so many sprouted up everywhere, so they should have lots of records - esp those old school (and old-age) docs who will write on cards (i.e. hardcopy) instead of typing into any on-line database/system in use...



#17

Posted 14 March 2017 - 09:21 AM

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what about GP clinics like these Healthway ones, as well as those standalone clinics in the neighbourhood estates? I think their biz must be good to have so many sprouted up everywhere, so they should have lots of records - esp those old school (and old-age) docs who will write on cards (i.e. hardcopy) instead of typing into any on-line database/system in use...

Doubt they would be on and theirs would still be in paper and legacy systems that would not be able to integrate into the HL7 infra

Lala81 and Vratenza can weigh in on this?

RESPECT is only for the DEAD!

#18

Posted 14 March 2017 - 09:35 AM

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Used to visit them when under my co's panel docs.

 

They still use card and file sistem. But, doctor will also type on the ancient IBM PC on mechanical keyboard. :D



#19

Posted 14 March 2017 - 09:42 AM

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Did invested in their stock some years ago ... but after few months saw wasn't doing that well and after seeing some clinics closed down, decided better to siam them ...

Lots of debts now ... don't know which white knight will come to bail them out totally ....
Biggest clinics island wide doesn't mean biggest profits ... not when shareholders are bickering
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#20

Posted 14 March 2017 - 10:52 AM

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"Meanwhile, group president Andrew Wong, who is on gardening leave, will resign at the end of the month after just six months on the job."

What the heck is "gardening leave"? Stay at home to plant orchid? Work at NParks?
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