Life Healthcare continues to impress under new CEO
The group declared a final dividend of 50c per share, up 11.1% on 2017
Hospital group Life Healthcare’s business units are firing on all cylinders with new CEO Shrey Viranna managing to improve revenue and profits across the group. The share price of SA’s second-biggest hospital operator climbed more than 7% on Friday, following the release of healthy results, with its revenue rising 12.9% to R23.5bn, and headline earnings per share up 40.6% to 108.8c. The group declared a final dividend of 50c per share, up 11.1% on the 2017 financial year.
Viranna, who became CEO in November 2017, has managed to improve profitability at Life Healthcare’s businesses, which include its Southern African hospitals, UK radiology services provider Alliance Medical and Polish medical services provider, Scanmed S.A. He said his plan to make Life Healthcare less reliant on its private acute hospitals business had led to strong returns. The group had increased its focus on specialised diagnostic services in Europe. Weak economic conditions meant private hospitals were se...