Aevis Victoria on the road to recovery

Aevis Victoria, which owns Swiss Medical Network, the second largest group of private hospitals in Switzerland and Medgate, the leading telemedicine provider in the country, says that it is slowing the downward financial trend that started in 2017.

For the full 2018 financial year, Aevis Victoria says that it expects to report a 1.1% decline in sales to SFr656 million (US$658.3 million), though revenues are up 8.7% to SFr186 million

It said that this was thanks to the growth of certain units as well as the acquisitions of Siloah and Medical Centres in Solothurn and Zurich-Oerlikon which have made it possible for the group to offset tariffs reductions and temporary closures for renovation works.

It added that the sale of a 20% stake in Infracore, which specialises in Swiss real estate in the healthcare market, to Baloise in December has enabled Aevis Victoria to realise a financial gain of nearly SFr77 million in Q4 2018. But this gain will not be reflected in the consolidated P&L because it concerns the sale of a minority stake.

Aevis Victoria will report its 2018 full-year results on 29 March.