Foundation Healthcare (FHH) investor relations material

Executive summary

• Revenue grew 20.2% year-over-year to S$129.2 million in 1H26, driven by organic growth, acquisitions, and new facility openings in the specialist segment.

• Specialist network expanded to 108 by end-1H26, with four more added in July, totaling 112.

• Investments in capacity, new clinics, and medical centre renovations support future growth.

• International expansion efforts advanced in Malaysia and Hong Kong, with a robust acquisition pipeline for 2H26.

• Profit and total comprehensive income declined 21.3% to S$12.7 million due to higher operating and acquisition-related expenses.

Financial highlights

• Revenue: S$129.2 million (up 20.2% year-over-year); specialist segment contributed S$125.7 million (+20% YoY), others S$3.5 million (+25% YoY).

• Adjusted EBITDA was S$39.8 million, broadly flat year-over-year, with margin declining to 30.8% from 37% due to growth investments.

• Adjusted PAT declined 17.4% YoY to S$16.1 million, with margin at 12% (down from 18%).

• Cash and cash equivalents stood at S$72.8 million at end-1H26.

• Adjusted Free Cash Flow increased 1.7% YoY to S$30.6 million.

Outlook and guidance

• Continued growth in specialist network through targeted hiring, acquisitions, and new joiners, with deal momentum to drive 2H26 performance.

• Medical centre ramp-up to continue, especially at FAC Novena and Orchard, with further expansion opportunities under evaluation.

• Scaling proprietary AVAⓇ platform across hospitals to drive operational efficiencies and ecosystem integration.

• Regional growth strategy focused on Malaysia and Hong Kong, leveraging insurer partnerships.

• Long-term demand supported by Singapore’s ageing population and chronic disease trends.