Medica Group
Posted: Fri Jan 25 2019 9:23am
Trading update yesterday at http://otp.investis.com/clients/uk/medi ... 4&cid=2130
The Company has achieved revenue for the year of £39.0m, an increase of 15.6% year on year, driven by increased demand for NightHawk and Cross-Sectional services, in line with the Company's strategy. The Company also expects to maintain the EBITDA margin of around 30% as seen at the H1 report. The Board expects the Company's performance for 2018 to be in line with market expectations.
The total number of contracted radiologists (including radiographers and rheumatologists) as at 31 December 2018 was 362 radiologists (31 December 2017: 306).
John Graham, Chief Executive Officer of Medica, commented:
"In 2018, Medica continued to deliver double-digit revenue growth as we execute our strategy to increase customer penetration of our NightHawk and Cross Sectional services. Additionally, during 2018 we continued to generate cash and had zero net debt at the year-end.
The combination of our market leading platform, strong cohort of radiologists and our reputation for high quality clinical governance means that Medica is well positioned to help our customers meet their requirements for teleradiology services.
In 2019 we expect that the business will continue to grow at a similar rate to that seen in 2018 giving us confidence to increase investment to support future growth opportunities."
Medica will publish final statutory results for the year ended 31 December 2018 on 25 March 2019