Life Healthcare results

The unprecedented economic effects of Covid-19 have not escaped hospital operators, who had to grapple with a fall-off in patient volumes as people delayed non-essential surgeries, as well as additional pandemic-related health-and-safety costs.This was reflected in large parts in the second largest JSE listed private hospital operator Life Healthcare’s annual results. Revenue fell 1.1% to R25.4bn to end-September, while normalised earnings before interest, taxation, depreciation and amortisation (ebitda) fell 24.1% to R4.34bn, including the effects of accounting changes. Life Healthcare has opted not to pay a final dividend, and also had held onto its interim dividend, the first time it has done so since listing on the JSE in 2010.
Michael Avery sat down with new CEO Peter Wharton-Hood, who took over the reins fairly recently in September from Shrey Virana who is emigrating to Australia. A qualified CA and a former head of operations for Deutsche Bank’s global markets division. He has also completed the Harvard Advanced Management Programme, Wharton-Hood shares his vision for the Group.