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By investing in Life Healthcare, investors gain access to the growing healthcare sector through our diversified portfolio of acute and non-acute services in southern Africa, diagnostic and molecular imaging, radiopharmaceutical manufacturing, LMI research and development, as well as healthcare services across western Europe. We are committed to being a good corporate citizen, and conducting our business ethically and sustainably to protect our reputation.
Our diversified portfolio offering of growth opportunities in non-acute complementary and healthcare services, as well as the advantage of leveraging our international operations’ experience in diagnostic imaging to develop the opportunity in southern Africa, place us in a favourable position to advance the growth initiative. While the COVID-19 pandemic delayed progress, the latter half of 2020 saw our efforts gathering significant momentum.
Internationally, Life Molecular Imaging (LMI) is a fully integrated research and development pharma company dedicated to developing and globally commercialising innovative molecular imaging agents for use in PET-CT diagnostics. NeuraceqTM is a radiopharmaceutical indicated for Positron Emission Tomography (PET) imaging of β-amyloid neuritic plaque density in the brains of adult patients with cognitive impairment who are being evaluated for Alzheimer’s disease (AD) and other causes of cognitive impairment. Neuraceq™, is a Food and Drug Administration (FDA) approved product market demand that will expand significantly once an Alzheimer’s therapeutic disease modifying drug (TDMD) is approved by the FDA.
We are a world-class hospital operator that is highly cash generative, delivering world-leading margins and clinical quality. In South Africa, we have a national footprint offering care across acute, complementary and occupational health facilities. Internationally, diagnostic imaging shows good prospects for growth, particularly from a PET-CT perspective in the UK. Our 18-month cyclotron refurbishment programme is nearing completion, and will ease radiopharmacy supply challenges. We have opened our fifth cyclotron location in September 2020 and will start producing commercially in the first quarter of 2021, supporting the longer-term growth in PET-CT.
Continued focus on quality outcomes and patient experience
Our patient-centric approach is what drives us to achieve clinical excellence. We are transparent about our quality scores, which continue to improve year-on-year, and we pride ourselves on our ability to provide excellent, affordable healthcare.
Adaptable and well-positioned
Our ability to pivot during times of crisis has been tested in 2020, with our response to COVID-19 demonstrating the resilience of our business. Our diverse operations and our proficiency in adjusting our operational processes have shown that we are well-positioned to continue our growth path in a post-COVID-19 environment.
Furthermore, while the cyber-incident resulted in taking our systems in South Africa offline for a period as a precautionary measure, we continued to provide quality healthcare across hospitals and clinics, which is testament to the alternative processes in place and our well-trained employees.
We are committed to driving excellence by continuously embedding operational efficiency initiatives throughout the Group. We are relentless in our focus on clinical outcomes and were the first hospital group in southern Africa to publish quality measures per hospital annually on our website, with patient experience updated daily.
Our quality efficient care initiatives focus on reducing the cost per event through formulary compliance and management of utilisation.
Our investment continues in data and analytics, with a focus on value-driven analytics use cases targeting improved clinical outcomes and continually yield operational efficiency.
Our nursing excellence efficiency drive through our DOMINO programme delivered exceptional results during a very challenging year. Improving on a new clinical practice environment that support our nurses and achieves the highest level of patient care in the safest and most optimal way is a key focus area for us.
A diversified strategy across business lines and territories
Experienced leadership
This year, we successfully balanced changes to our executive team with responsible crisis management. Leadership changes and the performance of the business, in addition to the pandemic and impact of the cyber-incident, attest to the bench strength across our teams in our various businesses.
Our leadership’s capabilities extend beyond times of crisis – we have a motivated and united team that is committed to moving the business forward.
We work with various stakeholder groups across our businesses, and we continue to invest in these relationships to maintain our competitive edge. Building relationships with our doctors and specialists is critical and leads to a growing and highly skilled base of healthcare professionals. Our engagement with hospitals, medical associations and tertiary institutions is ongoing to establish a pipeline of specialists for the future.
We build solid and lasting relationships with governments and regulators in the regions where we operate. This supports our commitment to simplifying access to high-quality healthcare for our patients. We remain committed to supporting government to help ease the burden on public healthcare facilities.
We continue to foster and sustain collaborative relationships with our healthcare funders and suppliers, promoting fair and transparent procurement activities and, particularly in South Africa, supporting enterprise development initiatives.
We will continue in developing and nurturing good working relationships with organised labour unions in southern Africa.
Operating ethically and sustainably
With an ingrained ethical culture, our organisation is supported by robust governance and good corporate citizenship.
We invest in our employees
Our ability to provide excellent and high-quality healthcare would not be possible without our employees, who are the essence of our business. We continue investing in our employees, creating sustainable partnerships that in turn, translates to quality care for our patients. We cohesively strive towards a common goal – to create the best patient experience and most positive patient outcomes.
We care
Caring is in our DNA, and this has never been more visible than during the COVID-19 pandemic. Our employees showed immense support for each other and our communities throughout this pandemic. Frontline employees continue to place their lives on the line to serve our patients. Sadly, 19 employees passed away due to COVID-19.
We continued to engage with government to care for patients in the public healthcare system, and to support its efforts in combatting the virus. With caring at the heart of our value system, we will never stop striving to improve the lives of our patients and communities.