This financial year ended 30 June 2017 marked a real turning point for The Medical and Surgical Centre Limited (“MSCL”) with the acquisition of the former Apollo Bramwell Hospital (renamed Wellkin Hospital (“WH”), a 200-bedded capacity medical facility in Moka in January 2017.
The consolidation of WH’s operations within MSCL is an important strategic move for the company. MSCL now manages 265 operational beds, including 9 operating theaters, and medical and paramedical services across 40 specialties.
While the acquisition of WH brought expected short-term challenges, it offers many long-term opportunities for all our stakeholders starting with our patients. Our vision is indeed to nurture excellence within both our operations, Fortis Clinique Darné (“FCD”) and WH and together create a regional medical hub. We believe MSCL, being the leading private healthcare provider in Mauritius, can develop specialties, centers of excellence, and ultimately improve the access to quality healthcare services in the country and for the region.
This financial year ended saw an increase of our turnover up to MUR 1.2 billion and a drop of our profit after tax down to negative MUR 24 million. These results are explained primarily by the acquisition of WH which led to an increase of our revenue but negatively impacted our profitability with exceptional acquisition costs and operational losses incurred at WH during the period under the review.
FCD has posted a satisfactory performance and continued to invest in the modernisation of its facilities, the relaunch of the Level III Neonatal Intensive Care Unit, and the acquisition of a new mammograph which will be in operation soon. Management has also reinforced internal processes and some specialties for a better patient experience.
During the year 2016-2017, MSCL acquired WH for a consideration of MUR 700 million WH and invested MUR 29 million in FCD to continue shaping our future.
The management team is focused on turning around WH’s operations, our immediate priority. The Hospital’s reorganisation is ongoing with the view to optimise our operations and offer a better patient care and experience. Our two medical facilities, namely WH and FCD will also be looking at increasing synergies to benefit from our scale.
We strongly believe that the combination of an established medical institution like FCD, which has been operating successfully for the past 64 years, coupled with a modern hospital like WH is opening avenues for potential synergies in terms of clinical & medical front in the first place, and secondly, through the administrative perspective.
Our actions will be driven in the coming months to nourish our core objectives which are:
- Excellence in patient care;
- Advanced medical and surgical procedures;
- Continuous improvement of our internal processes;
- Talent acquisition and retention.
I would like first to thank the fellow Directors of MSCL for their trust and support. I also seize the opportunity to thank the team at FCD for their hard work during the year to maintain their leading position brilliantly. I also thank the newly integrated team of WH that we are pleased to welcome onboard to embrace this new and promising chapter for MSCL.
We will continue to focus on relationships with staff and doctors as we deeply think that our people is our greatest value: our administrative staff, doctors, nurses and the rest of the medical staff who work hard together on a day-to-day basis to deliver excellent medical care and services and positively contribute to the development of our two hospitals.
Last but not least, I would like to thank all our patients for their trust in our teams. We will do our best to nurture a patient-centric culture within our medical facilities to continue and improve on the medical care and services provided.