Global Health Partner revenues increase 27% to SEK 178.9 million

Apr 28 2011

Global Health Partner (STO:GHP):

FIRST QUARTER 2011

• Revenues increased by 27 percent to SEK 178.9 million (140.6)
• The operating result amounted to SEK 10.4 million (4.7)
• The result before tax amounted to SEK 9.8 million (5.6)
• The result after tax amounted to SEK 6.0 million (2.3)
• The result per share amounted to SEK 0.04 (-0.01)
• Organic growth of 17 percent

THE CEO'S COMMENTS

The positive development of volumes and results has continued for our clinics during the first quarter. We have noted that demand has continued to increase in our orthopaedic and spine clinics as well as for our arrhythmia clinic in Stockholm. The number of orders received for the coming quarter is also favourable. At the same time there is a certain shift in the treatment mix of our Stockholm clinics as a result of the fact that we give priority to patients from the local County Council and this means a lower average price per treatment. All Swedish spine and orthopaedic clinics could expand further.

The dental clinics have been negatively affected by a somewhat lower inflow of referrals during the last quarter of 2010, but they have increased sharply during the first months of the year, which is expected to give higher revenues later in the year as these patients are treated three to six months after the referral has been received. The market situation is still uncertain for specialist dentistry during the coming future.

For our Swedish bariatric clinics the market situation is still strong, primarily due to rapidly increasing demand from the County Councils, who are actively trying to shorten waiting times until operations. However, this affects the demand from privately funded patients negatively, which leads to lower prices per treatment.

A few of the newly started Bartiatric clinics display negative results, partly as a consequence of the fact that they have just been started but also due to changed market conditions in the two countries. As a whole Global Health Partner is developing positively, the level of activity is high and the development of demand in the majority of our existing clinics continues to be strong.

28 April 2011
Gothenburg
Global Health Partner AB (publ)

Per Båtelson
CEO