Slow growth halts Advanced Health's plans
Advanced Health puts expansion on ice and will revisit empowerment when it posts no loss
Advanced Health has shelved plans to bring in an empowerment partner -at least until it breaks even, the day surgery group’s CEO, Carl Grillenberger, said on Thursday. Advanced Health owns day hospitals in Australia and SA, and listed on the JSE’s Alt-X in 2014. It has expanded rapidly in SA but has battled to attract patients to its 10 facilities in the country, resulting in sustained losses since its listing. Unlike the US, where about 70% of all surgical procedures are done in day clinics, only 12%-15% of operations in SA’s private health-care sector take place in these facilities.
R36.3m The amount Advanced Health lost in the six months to June..
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