Hospital group in India, Singapore saw fewer patients from Middle East due to war

SINGAPORE — IHH Healthcare's hospitals in India have seen fewer patients from the United Arab Emirates and Saudi Arabia due to the ongoing conflict in the Middle East, Chief Executive Officer Prem Kumar Nair said in an interview at the Reuters NEXT Asia conference in Singapore.

IHH's hospitals in Singapore have also been affected, as the company has long-term contracts with Middle Eastern health authorities to provide care for critical cases.

IHH, one of the world's largest private healthcare groups, operates more than 80 hospitals across 10 countries, including Malaysia and Turkey.

The U.S.-Israeli conflict with Iran has created one of the most uncertain periods for businesses in recent history, corporate executives said at the conference, citing rising energy prices, disrupted supply chains and trade routes affected by instability in the Strait of Hormuz.

On Wednesday, the U.S. military launched strikes on Iran to help keep the Strait of Hormuz open to shipping, prompting Iranian attacks on Kuwait and Bahrain, where the U.S. maintains military bases.

IHH said in May that the impact of geopolitical developments on its operations remained limited and had been largely mitigated by its diversified global presence.

Nair, a physician and healthcare executive with more than three decades of experience in the sector, became IHH's chief executive officer in late 2023.

IHH has a market capitalization of around $18 billion, according to LSEG data. The company is among the world's largest private healthcare providers, with hospital brands including Acibadem and Gleneagles, according to its website.

-Reporting by Jun Yuan Yong and Miyoung Kim; Editing by Muralikumar Anantharaman and Christopher Cushing/Reuters