Mediclinic says patient mix normalising towards pre-pandemic levels

28th Jul 2022 12:36

(Sharecast News) - Private healthcare group Mediclinic reiterated its full-year 2023 financial year guidance despite the increased macro uncertainty since it last updated financial markets.

Nevertheless, the group said it was observing "relatively low" Covid-19 hospital admissions and that the patient mix continued to normalise towards the levels seen before the pandemic.

Said guidance, which was issued on 25 May, had called for "positive momentum in revenue growth, margin improvement and earnings of FY22 to continue in FY23, driven by increased client activity supported by expected underlying economic growth in all three regions (Switzerland, Southern Africa and Middle East).

"Seasonal trends in patient activity levels, most notably in Switzerland and the Middle East, are expected to return, in the absence of any material new waves of COVID-19. Improving profitability and strong cash generation are expected to support continued deleveraging."

On 9 June, the company had notified of a potential offer for the outfit of 504.0p per share.

As of 1317 BST, shares of Mediclinic were dipping 0.57% to 485.20p.