28th Jul 2022 12:16
Mediclinic International PLC - Stellenbosch-based private healthcare provider - For the first quarter ended June 30, Mediclinic observes low Covid-19 related hospital admissions while the patient mix starts to return to pre-pandemic levels.
In South Africa, low Covid-19 hospital admissions and normalisation in bed day sales hurt overall revenue per paid patient day. In the Middle East, Mediclinic reports lower patient activity in April year-on-year due to Ramadan, but rising momentum in the following months until reaching record outpatient volumes in June.
In Switzerland, inpatient volumes for the quarter are reduced by holidays and ongoing disruption caused by Covid-19, it says.
Looking ahead, Mediclinic keeps annual guidance unchanged, with increased client activity driving further revenue growth and improved margin expansion.
"Seasonal trends in patient activity levels, most notably in Switzerland and the Middle East, are expected to return, in the absence of any material new waves of Covid-19. Improving profitability and strong cash generation are expected to support continued deleveraging," it says.
Current London stock price: 486.00 pence, down 0.4% on Thursday
12-month change: up 73%
Current Johannesburg stock price: ZAR98.64, up 0.6%
12-month change: up 71%
By Dayo Laniyan; [email protected]
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