Breast implant firm had €9.5m turnover

A cosmetic surgery firm that fitted 1,100 Irish women with below-grade silicone breast implants, generated millions in revenues from surgeries in the three years to the end of 2010, new figures show.

The Harley Medical Group is currently in talks with the Department of Health on the issue of covering the cost of removal surgery for patients affected.

Figures just filed for 2008, 2009 and 2010 by Harley Medical Group Ireland Ltd to the Companies Office show the firm generated combined turnover of €9.5m and pre-tax profits of €1.78m from surgeries over those three years.

During the same period, the accounts show the company paid €2.4m in dividends to its British parent.

At the weekend the group representing Irish women who received the below -grade breast implants said they were happy progress was being made to secure removal surgery for them.

Members of the PIP Action Group met with the State’s chief medical officer Dr Tony Holohan and welcomed the news that some progress was made in relation to Harley Medical Group’s willingness to deal with the women and on the issue of who would cover the cost of removal surgery.

The group, which treated 1,100 of the 1,500 women fitted with the implants, had not until now filed accounts to the Companies Office since October 2008.

The figures show revenues at the Irish-based firm declined steadily over the three years. In 2008 it recorded €4.29m revenue; in 2009 the figure was €2.97m and to the end of June 2010 revenues decreased to €2.3m.

Throughout the three- year period, the company recorded substantial profits despite the fall in turnover.

In 2010 it paid more in dividend than it recorded in profits when it paid a dividend of €349,177. This followed dividend pay-outs of €1m in 2009 and in 2008.

In 2010 and 2009, the private firm spent more on advertising and promotion than on nursing staff. A reported €293,230 was spent on advertising and promotion in 2010 and €321,504 in 2009, compared to €232,967 spent on nursing staff in 2010 and €146,086 in 2009.


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