TIDMMDC
RNS Number : 0800C
Mediclinic International PLC
10 April 2017
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")
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
10 April 2017
Swiss regulatory update
Mediclinic International plc, the international private
healthcare group, today announces the following updates in the
regulatory environment of Hirslanden, its operating platform in
Switzerland.
In the Group's interim results announcement on 10 November 2016,
Mediclinic stated that the canton of Zurich was considering a levy
on the proportion of privately insured patients treated in listed
hospitals, including Klinik Hirslanden, known as the VVG levy and
that the Swiss national outpatient tariff ("TARMED") was still in
revision.
On Monday, 10 April 2017, the Zurich Cantonal Parliament voted
not to approve the proposed VVG levy.
On TARMED, the Swiss Federal Government has released proposed
adjustments as a transitional solution whilst healthcare providers
and funders continue to negotiate and agree a revised TARMED tariff
structure. The government proposal is targeting annual savings of
around CHF700m across the public and private outpatient sectors.
Outpatient services contribute less than 20% of Hirslanden
revenues. Due to its implementation date on 1 January 2018, the
impact on Hirslanden is expected to be limited in the 2018
financial year (to 31 March 2018). Based on initial analyses of the
complex proposal, the expected annualised impact on Hirslanden
outpatient revenues could be around 10% before any mitigating
actions are considered which could include improved utilisation and
increased efficiencies.
The Zurich Cantonal Parliament has also approved an amendment to
the cantonal hospital law, providing a legal basis for the cantonal
government to create a list of interventions that in future should
generally be treated as outpatient rather than inpatient services.
The final list of interventions will be agreed following a working
group review.
Commenting today, Ole Wiesinger, CEO of Hirslanden, said:
"We acknowledge that the Zurich Cantonal Parliament has followed
the recommendation of the Finance Commission and voted not to
approve the proposed Zurich VVG levy and recognise that ongoing
dialogue and engagement with the relevant public authorities is key
to ensuring that we can continue to deliver high-quality,
cost-efficient, healthcare to our patients."
About Mediclinic International plc
Mediclinic is an international private healthcare group with
operating platforms in Southern Africa (South Africa and Namibia),
Switzerland and the United Arab Emirates. Its core purpose is to
enhance the quality of life of patients by providing acute care,
specialist-orientated, multi-disciplinary healthcare services.
Mediclinic also holds a 29.9% interest in Spire Healthcare Group
plc ("Spire"), a LSE listed and UK-based private healthcare
group.
Mediclinic International plc comprises 74 hospitals and 40
clinics. Mediclinic Southern Africa operates 49 hospitals and 2 day
clinics throughout South Africa and 3 hospitals in Namibia with
more than 8 000 inpatient beds in total; Hirslanden operates 16
private acute care facilities and 4 clinics in Switzerland with
more than 1 600 inpatient beds; and Mediclinic Middle East operates
6 hospitals and 34 clinics with more than 700 inpatient beds in the
United Arab Emirates.
The platform contributions to Group revenue for the financial
year end 2016 were Hirslanden (53.6%), Southern Africa (30.8%) and
the Middle East (15.6%).
During February 2016, the combination of the Company (previously
named Al Noor Hospitals Group plc), with operations mainly in Abu
Dhabi in the United Arab Emirates, and Mediclinic International
Limited was completed. Mediclinic International Limited was a South
African based international private healthcare group founded in
1983 and listed on the JSE, the South African stock exchange, since
1986, with operations in South Africa, Namibia, Switzerland and the
United Arab Emirates (mainly in Dubai). The combination resulted in
the renaming of the enlarged group to Mediclinic International
plc.
Mediclinic has a primary listing on the Main Market of the LSE,
with secondary listings on the JSE in South Africa and the NSX in
Namibia.
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
Brett Pollard/Ciara Martin
+44 (0)20 3727 1000
Frank Ford
+27 (0)21 487 9000
Registered address: 1st Floor, 40 Dukes Place, London, EC3A 7NH,
United Kingdom
Website: www.mediclinic.com
Corporate broker: Morgan Stanley & Co International plc
JSE sponsor: RAND MERCHANT BANK (A division of FirstRand Bank
Limited)
NSX sponsor: Simonis Storm Securities (Pty) Ltd
This information is provided by RNS
The company news service from the London Stock Exchange
END
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