AGM Trading Update
Mediclinic International plc
(Incorporated in England and Wales)
Company Number: 08338604
LSE Share Code: MDC
JSE Share Code: MEI
NSX Share Code: MEP
("Mediclinic", or the "Company" or the "Group")
22 July 2020
2020 Annual General Meeting trading update
Demonstrating operational resilience
Ahead of its Annual General Meeting today, Mediclinic, the diversified international private healthcare services group, provides the following trading update for June 2020.
At the FY20 results, Mediclinic reported on the sequential improvement between April and May 2020 following the impact of lockdown and other measures in response to the COVID-19 pandemic. In June 2020, the Group experienced a continued improvement in operational performance, demonstrating operational resilience during the pandemic and its aftermath.
As lockdown measures are relaxed, the gradual re-introduction of elective procedures and outpatient activities leads to improved operating performance. Switzerland and the United Arab Emirates have passed the initial peak of the pandemic. In June 2020, the operating performances at Hirslanden and Mediclinic Middle East, which represents more than two thirds of Group revenue, were ahead of the prior year. Southern Africa is yet to reach the initial peak. Consequently, Mediclinic Southern Africa's revenue continued to be impacted by the crisis and in June 2020 was down approximately 12% on the prior year.
The severity, duration and full impact of the COVID-19 pandemic and its economic aftermath on all businesses, including Mediclinic, continues to be uncertain. There remains a risk to elective procedures and outpatient activity from a continuation or reintroduction of lockdown and other measures in response to the pandemic; the availability of staff; and a disruption in the supply chain. Mediclinic is focused on fulfilling its vital role as a leading provider of essential healthcare services during this crisis. To this end, the Group remains agile in its approach, optimising its response to overcome challenges and create opportunities while seeking to maintain its strong financial position and liquidity.
Mediclinic currently expects to issue its 2021 half-year trading update on 15 October 2020.
About Mediclinic International plc
Mediclinic is a diversified international private healthcare services group, established in South Africa in 1983, with divisions in Switzerland, Southern Africa (South Africa and Namibia) and the United Arab Emirates ("UAE").
The Group's core purpose is to enhance the quality of life.
Its vision is to be the partner of choice that people trust for all their healthcare needs.
Mediclinic is focused on providing specialist-orientated, multi-disciplinary services across the continuum of care in such a way that the Group will be regarded as the most respected and trusted provider of healthcare services by patients, medical practitioners, funders and regulators of healthcare in each of its markets.
At 1 July 2020, Mediclinic comprised 76 hospitals, eight sub-acute and specialised hospitals, 15 day case clinics and 18 outpatient clinics. Hirslanden operated 17 hospitals and three day case clinics in Switzerland with more than 1 800 inpatient beds; Mediclinic Southern Africa operations included 52 hospitals (three of which in Namibia), eight sub-acute and specialised hospitals and 10 day case clinics (four of which operated by Intercare) across South Africa, and more than 8 700 inpatient beds; and Mediclinic Middle East operated seven hospitals, two day case clinics and 18 outpatient clinics with more than 900 inpatient beds in the UAE.
The Company's primary listing is on the London Stock Exchange ("LSE") in the United Kingdom, with secondary listings on the JSE Ltd in South Africa and the Namibian Stock Exchange in Namibia.
Mediclinic also holds a 29.9% interest in Spire Healthcare Group plc, a leading private healthcare group based in the United Kingdom and listed on the LSE.
For further information, please contact:
Company Secretary, Link Company Matters Limited
+44 (0)20 7954 9548
Investor Relations, Mediclinic International plc
James Arnold, Head of Investor Relations
+44 (0)20 3786 8181
Ben Atwell/Ciara Martin - UK
+44 (0)20 3727 1000
Sherryn Schooling - South Africa
+27 (0)21 487 9000
Registered address: 6th Floor, 65 Gresham Street, London, EC2V 7NQ, United Kingdom
Corporate broker (United Kingdom): Morgan Stanley & Co International plc and UBS Investment Bank
JSE sponsor (South Africa): Rand Merchant Bank (A division of FirstRand Bank Limited)
NSX sponsor (Namibia): Simonis Storm Securities (Pty) Ltd
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