Operators of Galway Clinic double pre-tax profits

THE company that operates the Galway Clinic almost doubled its pre-tax profits to €10.8 million in 2009, new figures show.

Galway Clinic Doughiska Ltd accounts just filed to the Companies Office show the company increased its revenues by 18% from €58.2m to €68.9m in the year to the end of December 2009. Pre-tax profits increased by 74% from €6.1m in 2008 to €10.8m.

The company’s operating expenses increased in 2009 by 20% from €50.8m to €56.8m operating profit increasing by 62% from €7.4m to €12m.

Bank loan interest payments totalling €1.26m reduced the company’s profits to €10.8m. At the end of 2009, the company had €11.1m in accumulated profits.

A founder member of Blackrock Clinic, James Sheehan is listed as a director and established the 146-bed Galway Clinic in 2004.

According to the directors’ report “the increase in profit is necessary to fund the ongoing expansion of the hospital. Investment in capital expenditure amounted to €14.3m during the year”.

The directors state the investment included the construction of two additional floors, increasing inpatient activity by 50% of which 40% is dedicated to caring for cancer patients.

The directors also confirm the company is presently constructing a hybrid operating theatre, which combines surgical equipment with high-end imaging equipment.

The directors state: “These developments provide essential services to the entire community, public and private, in the west of Ireland.”

The directors report that over 50,000 patients attended the hospital during 2009 that included almost 9,000 inpatients, 6,000 daycases with 5,700 attending the company’s A&E service.

The directors report that there were 2,400 patients treated under the National Treatment Purchase Fund in 2009.

The numbers employed at the private clinic increased by 43 during 2009 to 447 with 301 clinical and medical staff with 146 classified as ‘other’.

The figures show that staff costs increased by 12.5% from €20.5m to €23.1m during 2009.

The operating costs include a €3.1m depreciation cost.

The specialities at the hospital include cardiology, dental, dermatology, ENT, general surgery, gynaecology, oncology, plastics, radiotherapy, urology and vascular.

The directors state: “Robotic surgery activity increased steadily during the year.”

The report states: “Strict hand hygiene and good isolation facilities have resulted in a very low incidence of MRSA infection which is less than one per 1,000 hospital admissions. This level is on a par and in many instances exceeds the best results reported from the leading European centres.”