Johannesburg - Mediclinic International, the combination of South Africa’s biggest private healthcare provider and Al Noor Hospitals Group of Abu Dhabi, said it expects to continue growing in both regions despite economic and regulatory trends affecting its business.
“We expect an increase in demand for cost-effective quality hospital services and increasingly complex clinical services to continue leading to further volume growth,” CEO Danie Meintjes said in the company’s earnings statement on Wednesday for the year ended March 31.
South Africa’s Mediclinic completed a reverse takeover of Al Noor in February, gaining a listing on the London Stock Exchange and a place on the FTSE 100 Index. The enlarged company operates 73 hospitals and 45 clinics in South Africa, Namibia, Switzerland and the UAE, where it is the biggest private healthcare provider.
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“Notwithstanding the on-going changes in the global and regional economies and the regulatory changes that continue to impact healthcare and its affordability, we are continuing to see a strong demand for quality private healthcare services across our three operating platforms,” the company said.
Net income declined 27 percent to 177 million pounds ($259 million) in the 12 months through March, the Stellenbosch, South Africa-based company said on Wednesday. Sales increased 7 percent to 2.1 billion pounds.
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