SINGAPORE (Dec 3):  Healthway Medical Corp’s 3Q earnings more than halved to $3 million from $10.7 million a year earlier.

Revenue for the three months ended Sept 30 rose 7.6% to $23.2 million, mainly due to an increase in patient load and an increased contribution from the Primary Healthcare and Specialist & Wellness Healthcare segments.

Operating costs rose 26.8% to $28.5 million, owing to higher staff costs and medical supply expenses, an impairment loss of $1.5 million recognised  for loan receivables from medical centres in China, as well as an impairment loss of $3 million recognised for other receivables from a non-related company.

The stock closed 2.9% lower at 3.4 cents.