Spire feels the pain as the NHS reins in spending on electives
Spire Healthcare has lowered its expectations for 2018 as the NHS continues to rein in spending on elective care. The LSE-listed company said full year results would to be ‘materially lower’ than 2017 following underperformance in the first half. Provisional figures for the six months…
Disposals impact Bupa’s first half
Bupa reported today that underlying profit fell by 13% in the first half of 2018 as care home disposals and the divestment of its Thai business resulted in flat top line growth. Revenue of £5.9m remained unchanged on the first half of 2017 at constant…...
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PHP reports ‘improving tone’ on rent reviews as income jumps 7.5%
Primary Health Properties (PHP) said today that there is an ‘improving tone’ on rent reviews in the primary care sector as it announced a 7.5% jump in rental income to £37.4m for the six months ended 30 June 2018. The healthcare REIT reported a £2.6m…
Cosmetic surgery market buoyant for MYA
The cosmetic surgery market was buoyant in 2017, according to Harrogate-based provider MYA Cosmetic Surgery. The company reported an 14% jump in turnover to £21.5m in the year ended 30 September 2017 on the back of a ‘significant increase’ in activity, particularly in the second…
Medacs feels the pinch of agency cap
Reduced NHS spending on agency staff helped push turnover down 14% at specialist recruitment agency Medacs Healthcare last year. The company reported revenue of £98m (2016: £114.6m) for the year ended 29 December 2017, citing the NHS cap on agency spending, roll out of direct…
A ‘disappointing year’ from Foscote Court
Charitable hospital Foscote Court described 2016/17 as another ‘disappointing year’ after it was forced to repay a portion of its NHS contract due to insufficient referrals. The Banbury-based hospital said insured and self-pay patients had overtaken NHS activity in the year ended 30 September 2017…
Denplan benefits from renewed demand for dental cover
Denplan, the dental capitation plan provider, said it had enjoyed another profitable year in 2017 after operating profit rose almost 16% to £6.2m. The Simplyhealth-owned company, which rebranded Simplyhealth Professionals at the start of 2017, is the UK’s leading provider of dental capitation plans, with…
Cromwell reports further decline in revenue
Bupa-owned Medical Services International (MSI), which operates London’s Cromwell Hospital, has reported another year of revenue decline as the number of self-pay patients continues to fall. Revenue was down 7% to £95m for the year ended 31 December 2017, following a of 3% decrease in…
Operational challenges and one-off costs impact Care Fertility
Nationwide IVF provider Care Fertility has said a drop in earnings in 2017 was due to ‘operational challenges’ in London and one-off costs associated with major refurbishment and investment in new facilities. EBITDA, including joint venture and exceptional charges, plummeted by nearly 41% to £4.3m…
The London Clinic reports fall in revenue as embassy activity declines
The decline in international patients from the Middle East has continued to hit London’s private patient market, with The London Clinic becoming the latest hospital to report a dip in income. The charitable hospital, which is currently London’s largest private standalone facility, announced a 5%…
