Lanka Hospitals announces most successful year in 2015 with pre-tax profits up 16%

Sri Lanka’s internationally acclaimed multispecialty tertiary care hospital, Lanka Hospitals has announced record gains in the year 2015 as a result of exceptional quality of care for its patients, stringent administrative measures and reinforcing good management practices, the company has said in a media release.

Lanka Hospitals group; Lanka Hospitals Corporation and Lanka Hospitals Diagnostics (LHC & LHD) reported a turnover of Rs. 5.5 billion for the year, up 16 per cent from Rs. 4.8 billion in 2014.

The group’s profit before tax rose by 85 per cent to Rs. 968 million from Rs. 522 million the previous year (2014). This increase in profit growth created history in Lanka Hospitals’ financial reports, the release said.

In 2015, Lanka Hospitals says it introduced many ground breaking interventions which helped make it a truly world class facility. During the year in review, Lanka Hospitals performed its first Blastocyst culture pregnancy procedure, an important technique which increases the pregnancy rate in IVF treatment while reducing the risk of multiple pregnancies. Awake Craniotomy; Open brain surgery with an actively participating patient was another successful intervention that was introduced. LHC also completed the first Bone Marrow Transplant procedure in 2015. Lanka Hospitals also concentrates on a range of Centers of Excellence, some of them pioneering in the ‘one-stop’ model such as the newly launched Gastroenterology Center, the Women’s Wellness Centre that will be unveiled in the coming weeks, where diagnosing, consultation and treatment can be done holistically in one centralized location within the hospital premises.

The guidance rendered by Chairman Dr. Sarath Paranavitane, a veteran in the country’s health-care industry has contributed immensely to turn Lanka Hospitals to an exceptional profit-making venture.

“At the occasion of the 14th anniversary of Lanka Hospitals, the Board would like to sincerely thank the staff of Lanka Hospitals, for their hard work that has made Lanka Hospitals a trusted and a sought after healthcare services provider in the country and beyond. It has been nothing but the collective strength and the focused efforts of our dear staff members and our visiting consultant medical practitioners that have made Lanka Hospitals a house hold name in the country,” said Chairman Dr. Sarath Paranavitane.

Meanwhile the Business Time perusing the group’s annual report found directors remuneration and fees have risen sharply. Page 96 of the report reveals that this item rose to Rs.31.84 million in 2015 from Rs.16 million in 2014 in terms of the group while at Lanka Hospitals alone it was Rs.28.8 million versus Rs. 14 million in 2014.

The main shareholders in the company are Sri Lanka Insurance Corporation with a 54.6 per cent stake while Indiabased Fortis Global Healthcare Ltd has 28.66 per cent.