TIDMMDC
RNS Number : 5125G
Mediclinic International plc
27 July 2021
Mediclinic International plc
(Incorporated in England and Wales)
Company Number: 08338604
LSE Share Code: MDC
JSE Share Code: MEI
NSX Share Code: MEP
ISIN: GB00B8HX8Z88
LEI: 2138002S5BSBIZTD5I60
("Mediclinic" , the " Company ", or the "Group" )
27 July 2021
2021 Annual General Meeting Statement
In line year-to-date operating performance
2021 Annual General Meeting ("AGM")
Mediclinic, the diversified international private healthcare
services group, will today host its 2021 AGM. As explained in the
2021 notice of AGM and following the online shareholder engagement
event on Monday, 19 July 2021, today's AGM will be purely
functional, limited principally to putting the resolutions to
shareholders and calling the poll. There will be no presentations
regarding the Company's business or current trading and directors
based abroad will not be attending the meeting in person.
In line year-to-date operating performance
Given the strong underlying demand for Mediclinic's broad range
of services across the continuum of care, the Group continues to
expect to deliver growth in revenue and EBITDA across all three
divisions in the financial year ending 31 March 2022 ("FY22").
Year-to-date operating performance is in line with expectations
based on the previously disclosed FY22 guidance. In FY22,
pre-COVID-19 seasonal trends which impact operating performance are
expected to return and be reflected in the half-year results of
Hirslanden and Mediclinic Middle East.
With the ongoing pandemic, varied pace of vaccine rollouts and
planning assumptions of further waves and variants causing
continued uncertainty on the shape of the recovery, Mediclinic
remains cautious as to the full impact of COVID-19 on near-term
operating performance. In line with the outlook statement provided
as part of the 2021 financial year results, and given the Group's
focus on operational and cost efficiencies, it does not anticipate
any long-term structural impediments in returning EBITDA margins at
Hirslanden and Mediclinic Southern Africa to pre-pandemic levels.
At Mediclinic Middle East, the Group expects margins to continue to
gradually increase as it grows its presence across the region,
supported by recent expansion and upgrade projects in Dubai and Abu
Dhabi.
Cautionary Statement
This announcement contains certain forward-looking statements
relating to the business of the Company and its subsidiaries,
including with respect to the progress, timing and completion of
the Group's development; the Group's ability to treat, attract and
retain patients and clients; its ability to engage consultants and
healthcare practitioners and to operate its business and increase
referrals; the integration of prior acquisitions; the Group's
estimates for future performance and its estimates regarding
anticipated operating results; future revenue; capital
requirements; shareholder structure; and financing. In addition,
even if the Group's actual results or development are consistent
with the forward-looking statements contained in this announcement,
those results or developments may not be indicative of the Group's
results or developments in the future. In some cases,
forward-looking statements can be identified by words such as
"could", "should", "may", "expects", "aims", "targets",
"anticipates", "believes", "intends", "estimates", or similar.
These forward-looking statements are based largely on the Group's
current expectations as of the date of this announcement and are
subject to a number of known and unknown risks and uncertainties
and other factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievement expressed or implied by these
forward-looking statements. In particular, the Group's expectations
could be affected by, among other things, uncertainties involved in
the integration of acquisitions or new developments; changes in
legislation or the regulatory regime governing healthcare in
Switzerland, South Africa, Namibia and the UAE; poor performance by
healthcare practitioners who practise at its facilities; unexpected
regulatory actions or suspensions; competition in general; the
impact of global economic changes; the impact of pandemics,
including COVID-19; and the Group's ability to obtain or maintain
accreditation or approval for its facilities or service lines. In
light of these risks and uncertainties, there can be no assurance
that the forward-looking statements made in this announcement will
in fact be realised and no representation or warranty is given as
to the completeness or accuracy of the forward-looking statements
contained in this announcement.
The Group is providing the information in this announcement as
of this date, and disclaims any intention to, and makes no
undertaking to, publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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 31 March 2021, Mediclinic comprised 74 hospitals, five
subacute hospitals, two mental health facilities, 18 day case
clinics and 18 outpatient clinics. Hirslanden operated 17 hospitals
and four day case clinics in Switzerland with more than 1 900
inpatient beds; Mediclinic Southern Africa operations included 50
hospitals (three of which in Namibia), five sub-acute hospitals,
two mental health facilities and 12 day case clinics (four of which
operated by Intercare) across South Africa, and around 8 600
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. In addition, under management
contracts, Mediclinic Middle East operates one hospital in Abu
Dhabi and will open a 200-bed hospital in the Kingdom of Saudi
Arabia in mid-2022.
The Company's primary listing is on the London Stock Exchange
("LSE") in the United Kingdom, with secondary listings on the JSE
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:
Investor Relations, Mediclinic International plc
James Arnold, Head of Investor Relations
ir@mediclinic.com
+44 (0)20 3786 8181
Media queries
FTI Consulting
Ben Atwell/Ciara Martin - UK
+44 (0)20 3727 1000
Sherryn Schooling - South Africa
+27 (0)21 487 9000
Registered address : 6(th) Floor, 65 Gresham Street, London,
EC2V 7NQ, United Kingdom
Website: www.mediclinic.com
Corporate broker : 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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END
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