HSBC launches pioneer health and wellness centre; selects Raffles Medical as operator

HSBC Singapore announced on Monday (Jul 28) the launch of its first health and wellness centre in Singapore, which is located within its newest wealth centre at The Star Vista.

The health and wellness centre will be operated by Raffles Medical Group to service customers of the bank’s insurance arm HSBC Life Singapore. It is the bank’s first physical integrated wealth and health offering in Singapore, which allows customers to access wealth advisory, healthcare and protection under one roof.

Under this partnership, customers will receive additional benefits which include cashless arrangements for outpatient care, telemedicine services, 24/6 concierge and emergency care coordination discounted health screening packages and early detection initiatives.

HSBC’s health and wellness centre will exclusively serve customers of the bank, who are undergoing medical underwriting for their HSBC Singapore policies, at no additional cost.

Ashmita Acharya, head of international wealth and premier banking at HSBC Singapore, said: “Our new health and wellness centre’s launch delivers on our ambition to offer the most complete integrated wealth and health offering in the market, while offering a differentiated wealth centre experience that goes beyond traditional banking.”

In April, HSBC launched its wealth centre at Star Vista, as the second of three planned for this year. The bank said in a media release on Monday that this is part of the bank’s “multi-year transformation journey”, which involves a five-fold investment increase in a bid to enhance its physical network in Singapore.

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Raffles Medical has been a long-time partner of HSBC Life Singapore, as it has helped deliver medical underwriting and wellness services to the bank’s Singapore customers for over a decade.

On Monday, the healthcare group had reported a H1 FY2025 net profit of S$32.1 million for its first half ended Jun 30, a 4.8 per cent increase from S$30.6 million in the same period a year before. Its earnings per share for the period stood at S$0.0173, up from S$0.0165 in the previous corresponding period, and no interim dividend was declared by the mainboard-listed group.

The group noted that the healthcare sector remains underpinned by stable demand and structural growth drivers, amid volatility in financial markets and interest rate uncertainties which may weigh on investor sentiment.

It therefore continues to prioritise adapting to emerging health trends to stay resilient and relevant in a rapidly evolving healthcare landscape, amid Singapore’s rising life expectancy and population ages.

“During such challenging times, we remain focused on improving margins by optimising resource utilisation, streamlining care delivery processes, and driving speciality-driven services across our facilities,” the group said in its Monday statement.