Raffles Medical Group

Raffles Medical Group (SGX: BSL) is a good example of why the half-year results matter more than the annual report. FY2025 profit rose 13%, but 1H2026 profit fell 9.6% as transitional care occupancy dropped, while hospital profit still grew 11% on tighter cost management. At the same time, the group has a CTO hired in 2025 and a Board naming AI and digital transformation as key priorities, and its SAP hospital core faces SAP’s 2027 end of mainstream maintenance. Its largest rival, IHH, committed to new ERP platforms with Oracle and Infosys this year, which raises the bar on modern core systems. For tech sellers, the way in is helping a cash-rich operator match costs to changing demand, then shaping its next core platform.