SINGAPORE (Oct 27): Raffles Medical Group's third-quarter results were slightly below estimates.However, this did not discourage Nomura, which argues that the medical services company is set to enjoy a strong fourth quarter.

“Raffles is the only large-cap company listed in Singapore to have shown operational growth in 14 of the last 15 years and we expect this to continue" into the fiscal 2015 year, Nomura says.

It argues that healthcare services' fourth quarter growth will improve due to a newly opened medical center on Orchard Road in Singapore, a new clinic and three upgraded clinics being completed and a further new clinic expected to "ramp up" operations.

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