Life Healthcare’s enlarged international business accounted for nearly a quarter of group revenue in the year to end-September, from just 7% previously, chief financial officer and acting CEO Pieter van der Westhuizen said on Tuesday. The private-hospital operator bought 94% of UK-based Alliance Medical Group in November 2016 and increased its shareholding in India’s Max Healthcare Institute in August 2017 to 49.7%. These deals helped the group to grow revenue by 27% to R20.8bn in its 2017 financial year. However, normalised earnings per share fell 45%, partly due to one-off items related to the Alliance Medical acquisition and the further impairment of the group’s investment in Polish company Scanmed. Life Healthcare shares closed 6.8% up at R26 on Tuesday. The firm said while its UK business continued to benefit from a growth in scan volumes, it was "experiencing increased competition on the mobile diagnostic business as more capacity is added to the market". However, it had been ...
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