Ramsay in fine health

PRIVATE hospital operator Ramsay Health Care expects its Australian operations to remain the group’s powerhouse as demand for hospital services keeps growing.

Managing director Craig McNally says hospital services demand is underpinned by a growing and ageing population, increasing chronic disease, innovative treatments and new technology.

Ramsay has hospitals in Australia, France, Britain, Malaysia and Indonesia, and lifted its net profit 9 per cent to $488.9 million in the year to June.

Growth in admissions and procedural volumes boosted revenue in its Australian operations by 7 per cent, and earnings rose 14 per cent to $650 million.

“Australia remains the powerhouse of the business,” Mr McNally said.

“We do anticipate more challenging environments in Europe — tariff environments are going to get more difficult.”