Global Health Limited (NSE: Medanta, BSE: 543654), one of the largest private multi-specialty tertiary care providers operating in the North and East regions of India, today announced its unaudited consolidated financial results for the quarter and nine months ending 31^st December, 2022.

Highlights of the Nine Months Ended 31^st December, 2022 (9M FY2023)

• Total Income of Rs. 20,273 million; growth of 21.2% YoY
• EBITDA of Rs. 4,856 million; growth of 22.1% YoY
• EBITDA margins slightly improved to 24.0% compared to 23.8% in 9M FY22
• Profit after tax of Rs. 2,250 million; growth of 26.0% YoY
• Installed bed capacity increased by 167 beds; 65 beds added in Lucknow and 102 beds in Patna
• Occupied bed days increased by 10.7% YoY. In-patient occupancy stood at 59% on increased bed capacity
• ARPOB increased by 8.5% to Rs. 58,494 and ALOS improved by 16.1% to 3.2 days
• In-patient footfall of over 1 lakh, up by 31.9% and out-patient footfall of over 1.7 million, up by 12.3%

Highlights of the Quarter Ended 31^st December, 2022 (Q3 FY2023)

• Highest ever quarterly Total Income of Rs. 7,062 million; growth of 19.0% YoY
• EBITDA of Rs. 1,719 million; growth of 17.9% YoY
• Healthy EBITDA margins at 24.3%
• Profit after tax of Rs. 806 million; growth of 15.3% YoY
• Occupied bed days increased by 13.5% YoY. In-Patient occupancy stood at 59% on increased bed capacity
• ARPOB increased by 4.3% to Rs. 58,367 and ALOS improved to 3.3 days
• In-patient footfall of ~ 35,000+, up by 23.1% and Out-patient footfall of ~5.5Lakh+, up by 16.0%

Commenting on 9M and Q3 FY2023 results, Mr. Pankaj Sahni, Group CEO and Director said: “We are pleased to report that we have maintained our growth trajectory.  We remain committed to sustainable and steady growth, with an emphasis on delivering the highest end of complex care, continuing our bed build out across new and existing units, adding exceptional clinical talent and new services, and delivering growth that our stakeholders can feel proud of.”

9M FY2023 Performance Highlights

• Consolidated Total Income of INR 20,273 million, grew by 21.2% y-o-y. The growth was driven by combination of factors such as higher inpatient volumes, increase in bed occupied days, and change in specialty and payor mix
• EBITDA was INR 4,856 million; growth of 22.1% y-o-y. EBITDA margins remained strong at 24.0%. Profit after Tax was INR 2,250 million; growth of 26.0%. PAT margins improved slightly by 40 bps to 11.1%
• During the period, 167 new beds were added, including 65 beds at Lucknow and 102 beds at Patna hospital. Average beds occupied increased by 10.7%, representing an occupancy of 59% on increased bed capacity
• ARPOB grew by 8.5% to INR 58,494 in 9M FY23 driven by increased share of complex specialties. In-patients count increased by 31.9%; out-patients count increased by 12.3%
• Developing hospitals revenue share increased from 18% in 9M FY22 to 27% in 9M FY23 amounting to INR 5,401 million. Developing hospital EBITDA share increased from 17% in 9M FY22 to 32% in 9M FY23 amounting to INR 1,534 million
• During the period, International Patients Revenue increased by 83% to INR 1,197 million, driven by increased volume in international patient admissions
• In house OPD Pharmacy business continues to register strong growth. Revenue increased by 58% from INR 396 million in 9M FY22 to INR 625 million in 9M FY23

Strengthening the Core

• 134 specialist doctors joined across the various Medanta units in the 9 months ended December 31, 2022
• Maintaining its position as one of the most preferred destinations for senior doctors, Medanta added exceptional clinical talent across its units. Some of the recent senior doctor additions include:
  • Dr Randeep Guleria (Chairman – Institute of Internal Medicine and Respiratory & Sleep Medicine and Director – Medical Education), Medanta Gurugram
  • Dr Praveen Khilnani (Chairman – Pediatrics, Pediatric Pulmonology and Pediatric Critical Care), Medanta Gurugram
  • Dr Gagan Gautam (Vice Chairman, Uro-Oncology and Robotic Surgery), Medanta Gurugram
  • Dr Preeti Rastogi (Director and Head of Department, Obstetrics and Gynecology), Medanta Gurugram
  • Dr Neelam Vinay, (Director – Obstetrics & Gynaecology, Foetal Medicine, Reproductive Medicine and Gynaecological Oncology), Medanta Lucknow

• New specialties added: Medanta Gurugram started Lung Transplant program; Mother and Child Care units started at Lucknow in April 2022 and at Gurugram in February 2023. Gastroenterology, surgical oncology services started in Patna

• In line with the strategy of ensuring continuity of care to our patients and extending care outside hospital, the Company launched ‘Medanta Labs’, in January 2023. Eight collection centers have already been set up with a plan to scale up in the states with existing hospital labs in the first phase

Continuing the legacy of clinical excellence

Recognized as a preferred destination for advanced healthcare, Medanta continued its legacy of performing complex procedures. Some significant clinical accomplishments over the last 9 months:

• Country’s first three-way liver transplant swap, or paired exchange was performed in Medanta Gurugram. Three patients suffering from terminal liver disease simultaneously received life-saving liver transplants
• Medanta Gurugram started Lung Transplant program, and has successfully performed 3 transplants till date
• In an emergency procedure, the Medanta Transplant team saved life of a 3-year-old girl suffering from acute liver failure due to viral hepatitis – youngest ever in Uttar Pradesh to undergo a life-saving liver procedure
• Medanta Lucknow launched Mother & Child Services in April 2022, supported by a first-of-its-kind Level-3 Neonatal Intensive Care Unit in the state of Uttar Pradesh
• Medanta pioneered Evolut Pro + TAVI technique to treat aortic stenosis offering hope to patients with narrow vessels
• Medanta Gurugram completed 500 Bone Marrow Transplants (adult and pediatrics) in August 2022
• Medanta Lucknow completed 100 Kidney Transplants in August 2022, and 25 Liver Transplants in less than a year of starting the Liver Transplant Program