Netcare, which owns private hospitals in SA and the UK, was a victim of the rand strengthening against the pound over the six months to end-March, causing its revenue to decline 10% to R17bn. A R203m profit from the sale of its old Christiaan Barnard Memorial Hospital along with a R665m accounting windfall for projected UK rentals helped Netcare’s interim profit jump 46% to R1.9bn. But excluding these one-off gains, Netcare said its profit declined by 15.6% to R1bn. Measured in pounds, its UK division grew revenue 3.2% to £458m, with National Health Services (NHS) patients accounting for 43.5% of its total caseload. In SA, revenue grew 2.3% to R9.2bn. The revenue contribution from its South African hospitals grew 4.6% to R391m, although patient days declined by 1%. Netcare said its hospitals suffered from a drop in patients covered by the Workmen’s Compensation Fund along with "more active case management by medical schemes". Its proposed acquisition of Akeso Clinics’s 12 mental hea...
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