Mediclinic International plc, the international private healthcare services group, provides the following trading update ahead of the publication of the Group’s results for the year ended 31 March 2018 (“FY18”) on 24 May 2018.

The information on which this trading update is based represents the Group’s latest financial estimates and has not been reviewed or reported on by Mediclinic’s external auditors. All financial figures, unless explicitly stated, are presented on an adjusted basis.

Commenting today, Danie Meintjes, Mediclinic International CEO, said:

“The Group expects to deliver adjusted financial results for the year marginally ahead of expectations, with a significant second half improvement from the Middle East division.

“We are succeeding with the turnaround of the Abu Dhabi business and laying the foundation for long-term, sustainable performance. The Middle East division is now entering an expansionary phase that we expect will drive a strong increase in revenue and improvement in margins over time. In Abu Dhabi, the growth will be driven by an improved operating performance in the existing business and strategic expansion projects at the Mediclinic Airport Road, Mediclinic Al Noor and the new Mediclinic Western Region hospitals. In Dubai, we expect that the ongoing performance of the existing business will be supported by significant growth from the new 182-bed Mediclinic Parkview Hospital. This development project has progressed ahead of schedule and we now expect the hospital to open in October 2018, some six months earlier than previously communicated.

“The Southern Africa division delivered second half revenue growth ahead of expectations with a stable EBITDA margin for the year. In Switzerland, the Hirslanden division performed in line with expectations as it began to absorb the initial impact of regulatory changes. Both divisions benefited from cost saving programmes and productivity initiatives implemented during the year.

“The demand for the provision of quality healthcare services continues to increase driven by factors including an ageing population, growing disease burden and new technologies. Mediclinic, as the largest independent pan-EMEA private healthcare services group with market leading positions across all our operating divisions, is well positioned to benefit from these trends. Through our relentless focus on patient safety, excellent clinical performance, and sustainable and efficient operating practices, Mediclinic expects to continue to create long-term shareholder value.”

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