Lanka Hospitals celebrates 15th anniversary
The nation’s premier healthcare provider, Lanka Hospitals PLC, recognised for delivering the highest quality of healthcare on par with global medical standards and revolutionising the industry recently celebrated its 15-year anniversary.
To commemorate this milestone and celebrate its healthcare leadership status, Lanka Hospitals organized a series of events including a special religious ceremony, in recognition of nearly 60 employees who have served the hospital since its inception and the unveiling of a unique fifteen-year official anniversary logo. Lanka Hospitals board members, senior management, medical consultants and a large number of staff members and well-wishers were present to mark the occasion.
Dr. Sarath Paranavithana, Lanka Hospitals Group Chairman said, “Since 2002, we have been on a clear mission to be an internationally recognised and nationally benchmarked healthcare provider. Today, we have achieved excellence by offering comprehensive health care services, including the most complex surgeries and medical treatments available to our fellow citizens.”
“As we forge ahead providing state-of-theart technology and adhering to international standards, I also acknowledge all hospital staff, our in-house physicians and visiting consultant medical practitioners for their dedication in delivering compassionate care which are the hallmarks of our success,” Group Chief Executive Officer Dr. Prasad Medawatte added.
Lanka Hospitals was founded in Sri Lanka in June 2002, and formerly known as Apollo Hospitals Colombo as part of the Apollo Hospitals India. Since then it quickly evolved into an outstanding facility, recognised for excellent patient care and cutting-edge treatment.
Lankan Hospitals has also carved an outstanding reputation in treating international patients. Patients from the Maldives, Seychells, Europe and China seek the hospital’s excellent service for their medical needs. The Lanka Hospitals Corporation PLC (the Group) posted its highest-ever performance in 2016 demonstrating strong resilience to several external challenges to post while the net assets increased year on year up to Rs. 5,844 million at the end of 2016.
A remarkable growth was shown in diagnostics revenue which was attributable to the wide range of diagnostics services available for patients, greater accuracy and preciseness of the services offered and acceptance of the results of such services among clinicians and patients. An increase in volume growth was shown as fifteen pharmacies opened in major towns as well as an additional pharmacy within the Hospital premises.
The group demonstrated a strong financial position as of December 31, 2016 with total equity growing to Rs. 5,844 million, while total assets grew to Rs. 7,352 million. Property, plant and equipment forms 55.5 percent of the total assets of the group. As a leading player in the private healthcare industry, the group has continuously invested in state of the art medical equipment while expanding capacity.
The other major asset category amounting to Rs. 2,029 million and making up 27.6 percent of total assets was the group’s investment in fixed deposits and unit trusts. The group continued to be debt free with its strong cashflow generation supporting its working capital and long term capital requirements without resorting to borrowings.
A strong capital structure was maintained in 2016 with shareholders’ funds representing 79.5 percent of the funding profile of the group with non-current liabilities accounting for 7.6 percent and current liabilities 12.9 percent.
In its pursuit of exceptional quality of care for all patients and stringent standards, the hospital continues to dominate the healthcare sector offering several ‘Centers of Excellence’, a holistic service and being affordable and accessible to all Sri Lankans.