Acquisition Boosts Results For Healthscope
21 August 2008
HEALTHSCOPE
LIMITED
Acquisition Boosts Results For
Healthscope’s NZ Operations
Healthscope,
which is now New Zealand’s second largest pathology
provider, today reported Net Profit after Tax from
Continuing Operations, before Non Recurring Items (NRI’s)
of A$74.9 million, up 14 % over the previous year. Annual
revenues increased by 16% to A$1.5
billion.
Heallthscope Managing Director, Bruce
Dixon said the performance of Healthscope’s New Zealand
pathology business was boosted significantly by the
acquisition in December 2007 of New Zealand’s second
largest private pathology provider, New Zealand Diagnostics
Group Limited (trading as Southern Community Laboratories),
which contributed additional revenue in the year of A
$20.9m.
Annual revenue from Healthscope’s New
Zealand pathology operations were up 116% to A$36.6m from
A$17.9m in the previous year, with this increase largely
coming from the acquisition.
The result included
a 5% increase in revenue for Healthscope’s Northland
Pathology operation, which completed a major upgrade of its
Whangarei laboratory that services the community pathology
needs of Northland.
Healthscope is awaiting the
Court of Appeal’s decision following its Appeal seeking to
have the eight-year contract to provide community pathology
services to Auckland re-instated.
·Bruce Dixon
said that while earnings were flat for Healthscope’s New
Zealand vet pathology business due to both drought and
increased competition, the company had continued to bring
new tests and innovations to the local
market.
Bruce Dixon said the company is pleased
with the performance of its New Zealand operations and would
seek opportunities for further investment in the New Zealand
healthcare market over the
long-term.
Healthscope’s full results release
is available on the ASX at www.asx.com.au code
hsp
For further information in New Zealand please
contact:
Trish Sherson
Sherson Willis Ltd
09 360
8904 or 021 570 803.
About
Healthscope:
Healthscope, headquartered in
Melbourne, was formed in 1985 and listed on the Australian
Stock Exchange in 1994. It is Australia’s second largest
private hospital operator. Healthscope’s pathology
business was originally established in 1936. It has grown
to become Australia’s third largest pathology provider.
The company has market leading community pathology
operations in Malaysia and Singapore. Its global
operations employ 18,000 staff.
Healthscope is now
New Zealand’s second largest private pathology
provider
following its acquisition in December 2007
of New Zealand Diagnostics Group Limited
(NZDG).
The NZDG’s 11 Southern Community
Laboratories around the country have long-term contracts to
provide community and hospital pathology to the
Otago-Southland, Canterbury, Hawke’s Bay and Lakes
District Health Boards.
Healthscope also runs Northland
Pathology Laboratory Limited providing community pathology
services to the Northland
region.
ends