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Monash IVF Group’s presence in Southeast Asia has expanded from one clinic in the region prior to the pandemic to five clinics in FY23. In FY24, targeted measures were put in place to further grow the performance of the Group’s existing footprint in the region.

FY24
In FY24, the number of doctors at our Singapore clinic more than doubled to complement our existing founder doctors. There was also an increased focus on marketing and business development.

Momentum in our Kuala Lumpur clinic increased significantly, specifically new patient consults, which are expected to convert to treatment cycles in FY25. Our Bali clinic showed consistent growth throughout the year due to targeted efforts in marketing and business development activities in both Bali and regionally across specific provinces in Indonesia.

This is expected to deliver growth in FY25 and beyond.

Continued growth and investment in SEA
The pipeline of new opportunities also grew throughout the year. Potential opportunities include Greenfield sites with established fertility specialists in new cities, hospital groups requesting Monash IVF to build and/or operate their fertility services and various M&A opportunities in SEA.

Additionally, due to the continued growth in existing clinics, the favorable competitive position of Monash IVF in specific markets and our established support platform, the Group will expand and/or upgrade its existing clinic footprint where feasible. The Group will also consistently look at new opportunities in existing and new markets.