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The EMC Group revenue increased nearly 10 percent to over PLN 172 million in 2013

The EMC Group revenue increased nearly 10 percent to over PLN 172 million in 2013

Consolidated revenue of the Capital Group EMC Instytut Medyczny increased to PLN 172,6 million, up 9,5 percent from a year ago. The raise in revenue came from increased income from the National Health Fund, insurance companies as well as taking over a new medical facility.

Profit from the sale of the EMC Group in 2013 reached PLN 3.5 million, and the net profit was PLN 171 thousand. Consolidated EBITDA stood at PLN 12.8 million, 11.53 percent higher than last year.

In the 2nd quarter of 2013 the EMC Group expanded by setting up a new subsidiary "Zdrowie" that runs the District Hospital in Kwidzyń. The financial results of the medical institution have been consolidated since last August, which resulted in an increase in revenue of PLN 12.4 million in the reference period. While the new Company’s net loss of over PLN 1 million has adversely affected the final consolidated Group result.

Return on sales, excluding the Non-public Healthcare Institution Zdrowie, grew 25.8 percent to PLN 4.72 million, sales margin was 3 percent and equaled that achieved in 2012. Net income, excluding the Non-public Healthcare Institution Zdrowie, reached PLN 1.25 million up 142 compared to the result in 2012, when it was PLN 515 thousand.

‘Last year we found an investor - Penta Investments Fund which is going to provide funding for the EMC Group’s development strategy that involves taking over new facilities as well as redeveloping and modernizing facilities already owned by EMC. While PZU Group, having increased its engagement with the Company, has remained the second largest investor’ -said Piotr Gerber, the President of EMC Instytut Medyczny.

‘By gaining our investors’ support and having won the tender the EMC Group expanded by Spółka Zdrowie, which runs the Hospital in Kwidzyń. Towards the end of last year the takeover transaction for Hospital in Lubin was finalized, although the final agreement wasn’t signed until February 2014 after the consent of the Office of Competition and Consumer Protection had been granted ‘- he added.

The Group now owns 10 Hospitals and 16 Outpatient Clinics.

With the bed strength of 160 beds, the hospital in Kwidzyń has nine Departments such as: Surgery, Trauma and Orthopaedic Surgery, Urology, Obstetrics and Gynaecology, Neonatology, the Department of Paediatrics, the Department of Internal Medicine, Anaesthesiology and Intensive Care as well as the Hospital Emergency Department. The value of the contract signed with the NHF is nearly PLN 27 million per annum.

In December 2013, as a result of EMC winning the tender, a preliminary agreement was signed regarding the acquisition of Regional Health Center which runs the Hospital in Lubin.
The 400-bed hospital in Lower Silesia, as well as running a Nursing Care Centre and a Hospice, has 10 departments including: Internal Medicine with two subunits: Pulmonology and Allergology, General Surgery, Surgical Oncology, Rheumatology, Anaesthesiology and Intensive Care, Paediatrics, Neonatology, Obstetrics and Gynaecology, Trauma and Orthopaedics Department and a Hospital Emergency Department. The value of the contract signed with the NHF is nearly PLN 53 million per annum.

In addition to taking over new facilities, expansion and modernization projects were conducted in the Hospitals owned by EMC Group.

In July 2013, a project was stated for the redevelopment of the EMC-owned John Paul II Geriatric Hospital and the construction of a Research and Development Centre (RDC) began.
The hospital, which currently has a bed strength of 38, once expanded, will have further 26 geriatric and 24 rehabilitation beds as well as the Rehabilitation Centre fitted with modern rehabilitation and research equipment. After the investment project has been completed, the Hospital will have 88 beds and will become Poland’s largest geriatric institution.

The project will be financed with European Union funding, for which the Company shall receive PLN 3.4 million under the Operational Programme 'Innovative economy'.A research will be carried out, as a part of the project, to develop new therapies and to improve the quality of life in the elderly, thus increasing their physical fitness and independence. The RDC will be brought into being in cooperation with scientists from the Department of Biomedical Engineering, Silesian University of Technology. The investment project is due for completion in mid-2014.

In 2013 a redevelopment project started at the Outpatient Clinic at St. Anne’s Hospital in Piaseczno. A second level, which houses 10 consulting rooms, has been added to the one-story building. This is the first stage of modernization process that involves expanding Piaseczno hospital by a third so as to offer new medical services. The Outpatient Clinic is scheduled to open in early spring of 2014.

Last year, construction work continued to modernize Bukowiec Hospital, where a new Operating Theatre and a Central Sterile Services Department are being created. The quality of hospital stays is going to improve as well.
In order to cope with new projects, the team involved in the development of the EMC Group has been reinforced in 2013.

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