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Interim report January-June 2013: Continuing good organic growth and increasing profits

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  • Organic growth 7 percent in comparable units during the second quarter
  • Continuing good development of profits
  • Cost savings and effect of divested units strengthen results

SECOND QUARTER 2013

  • Revenues increased by 4 percent to SEK 194.6 million (187.3)
  • EBITDA amounted to SEK 16.2 million (5.1)
  • The operating result (EBIT) amounted to SEK 9.3 million (-5.5)
  • The result before tax (EBT) amounted to SEK 7.8 million (-6.9)
  • The result after tax (EAT) amounted to SEK 6.0 million (-8.6)
  • The result per share amounted to SEK 0.06 (-0.12)

FIRST HALF YEAR 2013

  • Revenues increased by 3 percent to SEK 389.6 million (379.7)
  • EBITDA amounted to SEK 42.3 million (17.1) – adjusted for capital gain, EBITDA amounted to SEK 31.6 million
  • The operating result (EBIT) amounted to SEK 28.3 million (-0.5)
  • The result before tax (EBT) amounted to SEK 24.7 million (-4.1)
  • The result after tax (EAT) amounted to SEK 20.2 million (-9.6)
  • The result per share amounted to SEK 0.24 (-0.18)

THE CEO’S COMMENTS
The second quarter developed very well for Global Health Partner (GHP) and the positive trend continued from the first quarter. Both sales and profits increased. Organic growth, for example, amounted to 7 percent during the quarter, whereas last year it was zero. Profits were also lifted by previous sales of clinics that are not part of GHP’s priority business operations.

There are some main reasons why GHP is developing better than previously. During the past year we have worked hard to get more patients to discover what good care we offer, at the same time as we have strived to become more efficient. This work has paid off.

It is extremely pleasing that all business units have contributed to the positive results. The businesses in Sweden have developed best and have increased sales by 11 percent. It was above all our units in Spine and Gastro that contributed here.

The greatest improvement in percentage terms was delivered by the Arrhythmia/New Specialities business area. During the quarter GHP’s clinic Arrhythmia Center Stockholm had the highest bed occupancy rate since it was started. There is great interest in the clinic’s ablation technology, which is used to treat atrial fibrillation, as this technology has displayed good results.

Our diabetes centre in Ajman recently became the first healthcare provider in the United Arab Emirates to be quality certified. The centre has already been made a reference clinic for diabetes care in the Gulf region and is now also certified by Joint Centre International. In our assessment, the market for diabetes treatment is growing.

It is becoming increasingly important to build strong brands as patients get more and more opportunities to choose for themselves where they want to be treated. Several of GHP’s clinics are well positioned here and our dependence on procurement processes is decreasing. We have therefore initiated work that aims to strengthen the Group’s GHP brand in relation to the individual clinics. Anyone who chooses GHP will know that they will receive care of the highest quality. Or as Ingemar Gladh from GHP’s clinic Ortho Center Stockholm recently put it at our seminar at Almedalen: “Most of our patients come to us through recommendations from friends and neighbours or from primary healthcare doctors.”

During the quarter we have also been successful with regard to procurement processes. We have won several healthcare agreements, even if they have been relatively small.

When I look back over my first year as CEO of GHP, I am struck not only by the very high quality of the care that we provide, but also by the great commitment that exists in the company to constantly becoming more efficient. Together we have managed to develop our business so that the groundwork has been laid for continuing profitable expansion.

15 July 2013
Gothenburg
Global Health Partner AB (publ)

The Board and CEO

Queries should be addressed to:
Marianne Dicander Alexandersson, CEO, phone: +46-31 712 53 09
Tobias Linebäck, CFO and Head of Investor Relations, phone: +46-708 55 37 19

Global Health Partner is an internationally active healthcare provider that operates specialist clinics in a select number of diagnostic areas through the application of a business model that is unique in the healthcare industry, where leading doctors become partners and shareholders. Multiple clinics with high patient volumes within the same diagnostic area produce increased efficiency and higher quality, which is the cornerstone of Global Health Partner's business philosophy – “Quality through Specialisation”. Global Health Partner’s shares are traded on the Small Cap list at NASDAQ OMX Stockholm under the abbreviation “GHP”.

Global Health Partner AB (publ) | www.globalhealthpartner.com
Corp. ID No. 556757-1103 | Östra Hamngatan 26-28 | SE-411 09 Gothenburg | Sweden
Tel +46-31 712 53 00 | Fax +46-31 313 13 21

Global Health Partner AB is required to publish the information herein according to the Swedish Securities Market Act. This information was published on 15 July 2013 at 8.00 a.m. CET.

This report has not been the subject of review by the company’s auditor.

This is a translation of the Swedish version of the interim report. When in doubt, the Swedish wording prevails.

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Global Health Partner ghp healthcare provider specialist clinics quality through specialisation Marianne Dicander Alexandersson Tobias Linebäck Interim report January-June 2013 with the patient at the centre

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