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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Ramsay Health Care Limited    RHC   AU000000RHC8

RAMSAY HEALTH CARE LIMITED

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Ramsay Health Care : ASX Announcement - Ramsay Health Care varies Agreement with NHS England Extending it to 31 December 2020

10/13/2020 | 09:00pm EST

ASX ANNOUNCEMENT

14 October 2020

RAMSAY HEALTH CARE VARIES AGREEMENT WITH NHS ENGLAND EXTENDING IT TO 31 DECEMBER 2020

Ramsay Health Care (Ramsay) confirms that it has varied its agreement with the NHS England (NHS) which makes its facilities and services available to the NHS and its patients during the COVID-19 pandemic. The revised agreement allows for the return of some capacity for private patient activity and routine NHS elective activity.

The varied agreement is deemed to have come into effect from 1 July 2020 and will expire on 31 December 2020, unless it is terminated earlier (whether by service of one months' notice by the NHS or by mutual agreement).

Under the varied agreement, Ramsay may request a limit on capacity available for NHS work for each premises (not below 75% generally, and not below 70% for certain premises in the London area or below 60% for certain premises in the commuter belt outside London) and will continue to receive cost recovery for its services, including operating costs, overheads, use of assets, rent and interest less a deduction for any private elective care provided. Ramsay will now have an opportunity to retain additional revenue on private patient activity over the course of the agreement.

During this de-escalation phase, the NHS may at any time, with 7 days' notice, trigger a return to peak surge conditions under which Ramsay must ensure that 100% of its capacity is available to the NHS. Under these circumstances, Ramsay will be able to utilise unused capacity for private patients where appropriate.

Ramsay Managing Director and CEO Craig McNally said, "I am extremely proud of our UK team who have been assisting the NHS by performing thousands of operations on behalf of the public sector as it has focused and dealt with the impact of COVID-19. Under the revised agreement, Ramsay will continue this support including providing more complex care such as cancer care."

Contact:

Kelly Hibbins

Group Head of Investor Relations Ramsay Health Care

+ 61 9220 1034

The release of this announcement has been authorised by the Disclosure Committee.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Ramsay Health Care Limited published this content on 14 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2020 00:59:05 UTC


© Publicnow 2020
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Sales 2021 13 111 M 10 108 M 10 108 M
Net income 2021 461 M 355 M 355 M
Net Debt 2021 7 403 M 5 707 M 5 707 M
P/E ratio 2021 30,5x
Yield 2021 1,49%
Capitalization 14 277 M 11 017 M 11 007 M
EV / Sales 2021 1,65x
EV / Sales 2022 1,55x
Nbr of Employees 80 000
Free-Float 76,8%
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Average target price 66,82 AUD
Last Close Price 62,70 AUD
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NameTitle
Craig Ralph McNally Chief Executive Officer, MD & Executive Director
Michael Stanley Siddle Chairman
Martyn Roberts Group Chief Financial Officer
John Stephen Horvath Group Chief Medical Officer
Peter John Evans Deputy Chairman
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