Medical tourism is when a person travels to another country for medical care. People may travel to another country to get health care for many reasons, such as to get treatment or a procedure that may be cheaper in another country and the procedure or therapy could also be sometimes unavailable in their own country. India is positioning itself as a centre of Ayurveda, Yoga, Sidha and Naturopathy along with the spiritual philosophy that has been developed through centuries of wisdom of this ancient civilisation. Therefore, the potential of wellness medical tourism is going to be a game changer for welcoming people from around the world. When people travel across international borders to seek healthcare services for complex surgeries, they are assured of trained and respected doctors and surgeons at Indian hospitals. India holds advantage as a medical and wellness tourism wherein most doctors and nurses are fluent in the English language plus having top of the line medical and diagnostic equipment from global international companies in our hospitals. India has in recent years emerged as a major hub for medical tourism and is now considered among the top six medical value destination in the world. The medical tourism scenario is currently estimated to be worth around USD 10 billion with around 2 million patients visiting the country every year. The industry is expected to reach USD 13 billion in the next few years and create jobs, precious foreign exchange and profits for Indian hospitals. There are many big hospitals in our country but the prominent ones are namely Apollo, Max, Medanta, Fortis, Narayana, etc. They are giving excellent facilities and services to overseas patients and creating a name for themselves around the globe. One hospital in the Delhi NCR region doing well and expanding fast is Artemis Medicare Services Ltd. The venture has been promoted by the Apollo Tyres Group and is designed as one of the most advanced hospital in the country. Artemis is a 541-bed tertiary care super speciality hospital based in Gurugram, Haryana, providing a depth of expertise in the spectrum of advanced medical and surgical interventions along with a comprehensive mix of inpatient and outpatient services. Artemis has put modern technology in the hands of renowned doctors from across the country to set new standards in healthcare.
The medical practices and procedures followed in the hospital are research oriented and benchmarked against the best in the world. Artemis posted strong financial Performance for Q3FY23 with net sales at Rs 181 crore in December 2022 up 28% from Rs 141 crore in December 2021. The quarterly net profit stood at Rs 10.79 crore in December 2022 up 60% from Rs 6.73 crore for the quarter of December 2021 period. The average gross revenue per occupied bed is Rs 67800 as against Rs 64400 year on year. EBITDA margin stood at 15.9% as against 13.1% year on year period. Revenue from overseas patients for the current Q3 period increased by 94% to touch Rs 50 crore from Rs 26 crore as of the same quarter of last year thus contributing 24% to the overall net revenue. The asset light model adopted by Artemis and expansion plans over the next few years can turn the company into a recognisable face in the medical industry. The Artemis stock currently quoting at Rs 66 on the bourses can be accumulated by portfolio investors for a smart 40% gain over the next 18 months’ time frame. Investors can do their own risk due diligence and take proper advice before buying any share or stock.
Rajiv Kapoor is a share broker, certified mutual fund expert and MDRT insurance agent.