Mediclinic International says it made another annual loss after writing down the value of its investments in UK-based Spire Healthcare Group and Switzerland’s Hirslanden by a combined £405m (R7.4bn). In the UK, Mediclinic has been grappling with lower revenues from state patients funded by the National Health Service, while regulatory changes in Switzerland mean some treatments have been shifted from in-patient stays to less lucrative outpatient visits. The private healthcare group made a reported loss of £151m in the year to end-March, from a loss of £492m previously, as it recorded a non-cash impairment charge on its investment in Spire of £164m and a £241m impairment linked to Hirslanden. The impairment in Switzerland, against the value of property, equipment, vehicles and intangibles, followed “changes in the market and regulatory environment”, the group said. In the previous financial year, the group recognised impairments against Spire of £109m and write-downs against Hirsland...
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