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Business

As Singapore loses medical tourism edge, healthcare firms expand overseas

China hospitals in the pipeline for IHH, Raffles Medical

SINGAPORE (Nikkei Markets) -- Singapore's healthcare players are shifting strategy as rising costs and growing competition erode the city-state's appeal as a destination for medical tourism.

Companies like IHH Healthcare Bhd and Raffles Medical Group are expanding overseas at a robust pace, leveraging on the brand names they've already established to draw increasingly affluent patients in populous countries such as China and India.

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