The growth strategy of day hospital group Advanced Health has pushed up annual losses almost threefold, but it is confident it will reap rewards in the medium to long term. The company, which listed on the JSE in 2014, has 10 operational day hospitals in SA and four in Australia. It recently raised R85m in a rights offer, which it said it would use to repay debt and fund new facilities planned for 2018. On Wednesday the group’s annual financial statements for the year ended June 2017 showed the loss at its South African operation widened to R22.5m, from R20.5m a year ago. The Australian operation made a R21m profit — almost four times the R5.7m profit of a year earlier.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.