Mediclinic wounded by Swiss business Hirslanden
Private health-care group’s subsidiary is battling regulatory changes
Mediclinic, which owns and operates hospitals and medical facilities, says it is taking steps to improve the financial performance of Swiss subsidiary Hirslanden, whose woes dominated the company’s first-half performance. In the six months ended September 30, Hirslanden, which operates 17 hospitals and four outpatient clinics, plunged into an operating loss of £54m from an operating profit of £72m and was the main reason behind the group’s disappointing performance. “The poor performance in Switzerland more than outweighed the revenue growth and margin expansion delivered by the Southern Africa and Middle East division,” Mediclinic CEO Ronnie van der Merwe said on Thursday.
Van der Merwe said regulatory changes regarding outpatient tariff adjustments and outmigration of care in Switzerland had shaken the health-care sector in that country. He said the company is taking steps to ensure Hirslanden, which is the largest private acute-care hospital in Switzerland, adjusts to the...
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.