Commentary
Overview
Life Healthcare performed well during the period under review and is in a healthy
financial position to deliver on its strategic objectives of growth, efficiency and
sustainability. Activities as measured by hospital paid patient days (PPDs), increased
by 5,4% as a result of additional hospital beds, particularly Life Bay View, Life
Glynnview and brownfield projects combined with the increased demand for hospital
services due to the high incidence of disease together with a growing and aging
medical aid population; and preferred network arrangements.
Financial performance
Group revenue increased by 11,7% to R9 812 million (2010: R8 786 million). Hospital
division revenue increased by 12,2% to R9 136 million (2010: R8 140 million) driven
by the 5,4% increase in PPDs and a higher revenue per PPD of 6,3%. Healthcare
Services revenues increased by 6,0% to R674 million (2010: R636 million). Life
Esidimeni revenue was flat as the business stabilised in 2011 after the completion of
two contracts in 2010 and Life Occupational experienced a very good year as a result
of new contracts and the selling of additional services to existing clients.
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