Mediclinic International down on cloudy outlook

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Mediclinic International down on cloudy outlook

The price of shares in FTSE 250 private hospital operator Mediclinic International (LON:MDC) dropped by 4.60% to 286p (as of 14:00 GMT) as management warned that uncertainty was still reducing visibility on future activity as non-urgent elective care faced delays due to lockdowns and other COVID measures. Revenues for the three months ended 31st December were up by 2.5%, driven by unseasonably high activity in southern Africa and the Middle East.

CEO Dr Ronnie van der Merwe commented: “Through the third quarter of our financial year, a more severe second wave of COVID-19 cases has placed greater demand on our acute care capacity. We continue to effectively navigate the challenges this presents through the tireless efforts of our medical professionals and staff who deserve our sincere appreciation and thanks.

Unlike early in the first wave, there have not been national restrictions on elective procedures and outpatient activity during Q3. Our ability during the period to continue with elective procedures, when and where we have capacity, as well as the unseasonable demand for our inpatient services in Southern Africa and the UAE during December 2020 supported our Q3 financial performance“.

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