Monday , May 16 2022

Swiss problems resulted in a big hit for Mediclinic


Private hospital group Mediclinic's net loss increased by four times to £ 158 million in the first half of 2019, from 40 million pounds to a disastrous performance from the Swiss subsidiary Hirslanden.

Nevertheless, Mediclinic retained its interim dividend at 3.2.

According to the results, the Middle East division of Mediclinic earned an operating profit of £ 14 million in the first half of the previous fiscal year, of which £ 16 million was the operating loss.

The bad news, however, was that Hirslanden, a subsidiary in Switzerland, suffered a loss of £ 54 million in operating profit of 72 million pounds.

South African hospitals' operating profit decreased by 4% from £ 78 million to £ 81 million.

The group's overall temporary revenue decreased by 1.3%, and was pulled down from Switzerland. This rate increased 46% of Mediclinic's total to $ 631 million, down 3%.

The Mediclinic CEO, Ronnie van der Merwe, said in a concluding statement, uygulan Immediately applied tariff adjustments and rapidly applied regulatory changes in maintenance migration in Switzerland significantly affect the health market in that country. Medic Said.

’We focused on adapting Hirslanden to reflect the future healthcare environment in Switzerland.“

The South African division reached 444m euros, an increase of 1.1%. In Rand, growth is 5% to R8bn.

South African hospitals have been able to make a profit, despite "second-quarter volumes" expected due to fewer winter flu cases, Mediclinic said.

In the Middle East, Mediclinic similarly reported a growth of 5% in local currency, but this rate was reduced to 310 million pounds with a 1% decline.

"In the Middle East, we continue to gain momentum in terms of revenue growth, selective investment projects that enrich our facilities, as well as strategic service delivery and strategic expansion of our capacity in the region," says Van der Merwe. Said.

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