Interim report January - June 2009: Stable second quarter and successful start-up of new treatment area Second quarter 2009 * Revenues increased by 23 percent to SEK 132.8 million (108.1) * The result before tax amounted to SEK 4.5 million (0.7) * The result per share amounted to SEK -0.01 (-0.07) * The operating result amounted to SEK 5.5 million (3.3) * Stockholm Arrhythmia Center treated its first patients * Agreement concerning the treatment of diabetes and obesity entered into with the Ministry of Health in the United Arab Emirates First half-year 2009 * Revenues increased by 33 percent to SEK 258.8 million (194.4) * The result before tax amounted to SEK 7.4 million (0.3) * The result per share amounted to SEK -0.07 (-0.13) * The operating result amounted to SEK 8.8 million (4.0) Comments from Per Båtelson, CEO: “The second quarter has been characterized by stable business operations in all clinics. The Group has had a good organic growth and an improvement in the operating result compared with the previous year. The start-up of the Arrhythmia Center Stockholm, a clinic for the treatment of patients with an irregular cardiac rhythm through so-called ablation, has exceeded expectations. The clinic is in principle fully booked for the next six months with mainly patients paid for by public funds. The assignment with regard to the treatment of diabetes and obesity in the United Arab Emirates has picked up speed and is going into an implementation stage in September. Remuneration for management responsibility has been paid since the middle of May, when the agreement was entered into. The assignment has aroused great political interest and received attention in the media. Somewhat lower margins within Service Line Spine and start-up costs for the ablation facility that was taken into use in May at Södersjukhuset in Stockholm have affected the results for the quarter. Furthermore, the results for the quarter include project costs attributable to the Bariatrics investment in the UK, which is considerably greater than the previous year. Despite this the Group results are better than the previous year due to reduced central costs.. As a result of the high patient pressure certain clinics have overproduced in relation to the production cap in the publicly funded orders during the first half-year. This risks reducing the organic growth in our Swedish clinics, above all within Service Line Spine and Orthopaedics during the autumn. In all other respects the business is running according to plan and the medical results are very good. Comprehensive work is ongoing to document quality and, amongst other things with the aid of the Swedish national quality registers, to bring to light our leading position.” Queries should be addressed to: Per Båtelson, CEO +46-705 95 57 00 Anna Ahlberg, IR +46-708 55 38 35 Global Health Partner operates specialist clinics that focus on selected treatment areas (Spine, Dental, Bariatrics and Orthopaedics) using a business model unique in the Swedish healthcare sector in which leading physicians become partners and shareholders. Operating clinics with a high patient volume in a particular treatment area leads to a higher level of efficiency and quality. This concept of “Quality through Specialisation” is the foundation for the clinics and Global Health Partner's operations. Global Health Partner's shares are traded on the Small Cap list at NASDAQ OMX Stockholm under the abbreviation “GHP.” Global Health Partner AB is required to publish the information herein under the Swedish Securities Market Act. This information was published on 20 July 2009 at 08.30am CET.
Interim report January - June 2009: Stable second quarter and successful start-up of new treatment area
| Source: GHP Specialty Care AB