Ramsay on track

Australian currency rolled (6CPA funding)

Ramsay is preparing for its next phase of growth in Australia’s pharmacy sector

The Ramsay Group has announced its results for the six months up to 31 December 2018, in which it states that its performance is in line with expectations.

In Australia, it announced that revenue was up 4.8% to $2.6 billion, with EBITDA up 5.7% to $484.6 million.

Ramsay Health Care Managing Director Craig McNally said the company was on track to deliver on its guidance for Fiscal year 2019 after an overall solid first half performance.

“Our Australian operations delivered 5.7% overall EBITDA growth on the previous corresponding period on the back of volume growth and an ongoing focus on achieving operational efficiencies,” he said.

Mr McNally said Ramsay Health Care was delivering on its strategy of becoming a global health care operator and a “provider system of choice” in the markets where it operates.

“We now have market leading positions in Australia, France and Scandinavia, which enables us to achieve improved economies of scale, best practice, cost leadership, speed to market, and innovation.

“The scale, diversity and quality of our portfolio across geographies and in terms of the mix of public and private provision, as well as our deep and experienced leadership, remain unique sources of differentiation for our business.

“Across the organisation we are focused on growing new and innovative services including cancer clinical trials and out-of-hospital healthcare provision including pharmacy, to deliver growth and sustainability of our business for the long term.”

The group says it has continued strengthening its operations and management team in pharmacy, in order to prepare for its next phase of growth.

“In Australia, we maintain a market leadership position in terms of the strength and diversity of our portfolio with our focus on delivering high quality services,” Mr McNally said.

“While there are short term challenges for the private healthcare sector, the long term outlook for the sector is positive.”

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