Mediclinic flags ME revenue drop

South African private healthcare provider Mediclinic expects a drop in revenue and margins at its Middle East business, it said on Tuesday, sending its shares down more than five per cent in London and Johannesburg.

Mediclinic took over Abu Dhabi’s Al Noor last year and started consolidating the group’s hospitals with its own Dubai operations.

However, patient volumes and trading performance in Abu Dhabi have been below expectations and the company said it has decided to cut administrative personnel and look for other ways to cut costs in the region.