Mediclinic says they delivered a number of key initiatives
Mediclinic Heart Hospital in Pretoria.Picture: Oupa Mokoena/African News Agency/ANA
JOHANNESBURG – International private healthcare group Mediclinic said on Wednesday it had delivered on a number of key operational initiatives during its half year ended September 30, with the 182-bed Mediclinic Parkview Hospital in Dubai opened last month on time and in budget.
Mediclinic is due to release its interim results on November 15.
CEO Dr Ronnie van der Merwe said in southern Africa the company had completed the investment in the Intercare day clinic business and Welkom Medical Centre, in line with its strategy to expand Mediclinic’s primary care and day clinic presence.
Trading in the first half of the year experienced the customary seasonality in Switzerland and the Middle East, where Mediclinic delivered a gradual improvement in revenue and margin expansion ahead of the anticipated stronger growth in the second half of the year, he said.
In Switzerland, the business continued to adapt to recent regulatory changes in the outpatient environment, which had a greater than expected impact on admissions and the insurance mix.
In southern Africa, margins were maintained on lower volumes due to weakness in the second quarter from fewer pneumonia and bronchitis related cases during the winter.
“For the full year, our performance in southern Africa remains in line with guidance,” van der Merwe said. “In the Middle East, full year EBITDA (earnings before interest, taxes, depreciation, and amortization) delivery remains on track with revenue growth lower than previously expected.”
“In Switzerland, we now expect to deliver modest revenue growth in the full year including contribution from Clinique des Grangettes, with an adjusted EBITDA margin of around 16 percent.”
– African News Agency (ANA)
Source: iol.co.za