Mediclinic Parkview Hospital in Dubai has been ramped up over the last six months
Health company Mediclinic International Plc expects increased first-half core earnings following adjustments caused by regulatory changes in Switzerland and solid performances from its Middle Eastern and African businesses, the company said on Wednesday.
The company – which is listed in both London and Johannesburg – said that its reported revenue for the six-month period ending on September 30 was 9 percent higher, while earnings before interest, tax, depreciation and amortisation (EBITDA) before newly implemented accounting rules was up approximately 5 percent.
In Switzerland, Mediclinic has faced tightening restrictions that have put pressure on margins, including a less favourable insurance mix and reductions on tariffs for outpatients.
Hirslanden, the Switzerland-based business that accounts for approximately 50 percent of Mediclinic’s revenue, saw revenue go up by about 5 percent.
“Hirslanden has continued to make good progress in adapting the business to the regulatory changes affecting the Swiss healthcare system,” Mediclinic said in a statement. “Performance during the first six months of the financial year was in line with expectations.”
In the Middle East, the firm’s business was bolstered by the ramp-up of Mediclinic Parkview Hospital in Dubai and an improvement in its business in Abu Dhabi.