Sector Update � Healthcare (OVERWEIGHT, maintain)

Top Calls

Sector Update � Healthcare (OVERWEIGHT, maintain) - Opportunity for long-term investors Recent data indicates accelerating business volume for hospital operators, with inpatient admissions registering growth in 1Q16 after the weakness of the past few quarters. We expect secular demand growth for private healthcare services, and clear expansion plans to take advantage of this trend, to drive the long-term growth of the hospital sub-sector. Hospital operators appear well-positioned to retain the economic profit conferred by secular trends, given their strong competitive position in the value chain. Maintain Overweight.

Other Calls

Economy � Trade - Exports declined unexpectedly by -0.9% yoy in May

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