Business tycoon
6 billion in a move to get aggressive in the booming healthcare industry.
bought the entire shareholding of
1.6 billion.
Browns Health Care is in the business of operating a multispecialty hospital under the brand Browns Hospitals and wholly owns the 70-bed
868 million, up from
Gross profit improved to
510 million. The sector achieved a post-tax profit of Rs.
105 million as against a loss of
2.7 billion and liabilities were Rs.
642 million. Browns had originally invested Rs.
180.7 million in the healthcare subsidiary shareholding of 1.8 million shares.
Analysts said the acquisition was strategic as
It is a multi-specialty Hospital in Ragama and first in a chain of secondary care general hospitals and diagnostic centres which are dedicated to provide high quality care through comprehensive, integrated clinical practice and personalised care to every patient. This is the first and only hospital to receive ISO 9001:2015 certification from the
In the 2018/19 Annual Report, Browns said the Hospital has shown remarkable progress and achieved its highest ever top-line and bottom-line figures. In-patient and Outpatient count increased significantly, as did the number of surgeries, which delivered significant revenue to the hospital.
However, the regulatory environment has become increasingly challenging in recent years with the government mandating price reduction of drugs, temporary price ceilings on certain tests and pursuing price controls for private hospital room rates and charges for basic procedures. The healthcare industry is grappling with a shortage in skilled professionals including doctors, specialists, qualified pharmacists, nursing staff and technical staff.
Closely monitoring each and every business unit on its contribution towards the hospital has been a key to success for Browns Hospitals. Excelling on clinical aspects and keeping the operational cost at the lowest has been critical for the hospitals success.
"We believe that the key to future success is in the introduction of new specialties to the hospital. Surgical and medical units and lab sample collection centres have been identified as the key growth areas for Browns Hospitals.
Starting new surgical procedures and improving bed capacity is also been looked at for growth perspectives," the company said.
© Pakistan Press International, source