Year-end report 2010: Continued stable profit development

Wed, Feb 23, 2011 08:30 CET

FOURTH QUARTER 2010

Revenues increased by 17 percent to SEK 177.6 million (151.2)
The operating result amounted to SEK 12.5 million (-2.9)The result before tax amounted to SEK 12.8 million (-5.9)
The result after tax amounted to SEK 12.6 million (-8.5)
The result per share amounted to SEK 0.13 (-0.19)
Organic growth of 10 percent
Acquisition of Stockholm Gastro Center

WHOLE YEAR 2010

Revenues increased by 16 percent to SEK 585.5 million (503.3)
The operating result amounted to SEK 28.4 million (-7.2)
The result before tax amounted to SEK 29.3 million (-11.2)
The result after tax amounted to SEK 20.1 million (-18.4)
The result per share amounted to SEK 0.15 (-0.45)
Organic growth of 12 percent

THE CEO’S COMMENTS
The fourth quarter of 2010 was characterised by continued good development of volumes and profitability for the majority of our clinics, which resulted in a positive result for the Group for the whole year, well in line with our expectations.

Particularly pleasing is the progress made within the bariatric area, above all for the Swedish clinics. The Swedish spine and orthopaedic clinics have also had strong demand and further increased their capacity utilisation. The Swedish dental clinics note weaker demand for complex specialist treatments, probably a consequence of the less favourable public remuneration conditions. However, we are maintaining volumes by taking market shares at a slightly lower margin. Our arrhythmia clinic has completed its first full year in business. The clinic is profitable and is already the ablation centre that performs the most fibrillation ablations in Sweden.

The prospects for our two newly started Danish bariatric clinics have deteriorated after notice was given by the Danish National Board of Health of a large reduction in the public financing of obesity surgery. This will affect demand negatively during 2011 and probably lead to a consolidation among existing clinics in the market. We have also observed continued insufficient allocation of public funds for obesity surgery in the Czech Republic.

To sum up, we have shown in 2010 that the underlying good profitability in our clinics together with good cost control regarding central costs and investments have meant a breakthrough for the development of the Group’s profitability.

23 February 2011
Gothenburg
Global Health Partner AB (publ)

The Board

Queries should be addressed to:
Per Båtelson, CEO, phone +46-705 95 57 00
Tobias Linebäck, CFO, phone +46-708 55 37 19
Anna Ahlberg, IR, phone +46-708 55 38 35

Global Health Partner is an internationally active healthcare provider that operates specialist clinics in a select number of treatment 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 area of treatment 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 is required to publish the information herein according to the Swedish Securities Market Act. This information was published on 23 February 2011 at 8.30 a.m. CET.

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

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Global Health Partner

Year-end report 2010: Continued stable profit development

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