Lee addressing attendees during the hospital’s 26th Annual General Meeting.
ONCE on the brink of closure, Seremban’s Mawar Medical Centre (MMC) has made a remarkable turnaround with a financial breakthrough within the span of four short years.
Previously known as Pusat Haemodialisis Mawar (PHM), which provided free or subsidised treatment to thousands of dialysis patients, the hospital recorded a net profit of RM2.2mil for the financial year ending March 31 (FY2023), ending losses and marking a significant turning point in its revenue performance.
The hospital owes its stunning transformation to property developer and PHM chairman Datuk Seri Lee Tian Hock, who stepped in with his team to rescue the ailing hospital in 2019.
A patient preparing for dialysis treatment at Mawar Medical Centre in Seremban.
At the time, the hospital had been ordered to cease operations by Health Ministry following licensing issues and the mass resignation of its specialists.
Lee’s team then took over the hospital’s management and advanced RM6mil to settle outstanding financial burdens, setting the wheels in motion for the hospital’s restructuring.
Announcing the medical centre’s financial numbers at its recent annual general meeting, Lee said ending losses would strengthen its future competitiveness, enhance the hospital’s reputation, expand profitable investments and create more value while improving employee welfare.
Gross profit for FY2023 was RM17.7mil with a monthly average of RM1.4mil, growing by 72.8%, compared to RM850,000 per month in 2022.
Crediting better cost management and operational efficiency, Lee said MMC’s net profit of RM2.2mil was a breakthrough as it had registered a net loss of RM2.3mil in 2022.
Lee, the man responsible for the amazing transformation of Seremban’s CMH Specialist Hospital, another hospital once mired in debt, said more beds were expected to be added to MMC, which is owned by PHM.
MMC currently has 57 beds.
“We are awaiting Health Ministry’s approval for another 20 beds, which will give us a total of 77 beds by the end of October,” he said.
Lee expressed hope that MMC’s capacity would be upped to 97 beds by next year.
With MMC’s improving financial health and cash flow, Lee expects to settle the outstanding RM29.5mil owed to Matrix Medicare Sdn Bhd within the next five years.
He said following a successful year, the management also decided to grant a one-time special salary increment to all staff in appreciation of their work.
The employees will get an increment of between 5% and 10% depending on their salaries.
Resident consultants will get a monetary reward of RM10,000 while visiting consultants will get RM5,000 each.
The medical centre has 16 resident consultants and a host of visiting consultants.
