Medica Group eyes recovery with hospitals returning to elective surgeries as COVID-19 pressure eases

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  • Medica Group’s rebound is a story of patience and patients
  • Medica Group CEO says growth potential of the business remains strong
  • Medica still top pick in healthcare services for Liberum
  • Medica Group ready to support NHS with ‘backlog of over 4.7mln patients waiting for elective procedures’
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Quick facts: Medica Group PLC

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The market leader in the provision of teleradiology services to the NHS. Medica Group currently offers two primary services to hospital radiology departments to meet demand and supply imbalance in urgent and non urgent settings: NightHawk and Elective (previously Routine) which includes cross-sectional (CT/MR) and plain film (PF) examinations. These services provide hospital radiology departments, amongst other benefits, the ability to manage their workflow more efficiently and provide rapid access to specialist Consultant Radiologists, which may not be available to that hospital at the relevant time or at all.

08 Aug 2021

Without wishing to tempt fate, the omens are looking promising for (, ) and its hoped-for recovery in elective surgery rates to pre-pandemic levels.

In a recent trading update covering the first half of the year, the company reported “a sustained recovery in activity in diagnostic services”.

Medica’s customer base comprises more than100 NHS trusts, as well as Ireland’s Health Service Executive (HSE) plus many private hospital and insurance groups, and it is well-known that there is a growing backlog of surgery waiting to be performed.

Management revealed in the July trading update that elective surgery activity is back to 75% of pre-COVID levels and the board is counting on the release of pent-up demand for its services, such as MRI (magnetic resonance imaging), CT (computerised tomography), ultrasound and plain film (x-ray) scans, to drive growth into and beyond 2022.

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22 Jul 2021

(), the computerised tomography (CT) and X-ray specialist, said it is seeing a sustained recovery in scanning activity in diagnostic services.

The group, which is focused on the UK & Ireland plus the United States and Australia, saw demand for its teleradiology services hit as healthcare organisations concentrated on combatting Coronavirus (COVID-19) but activity levels are recovering.

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16 Jun 2021

Teleradiology specialist () said its positive start to 2021 has continued.

The comment was made by chairman Roy Davis ahead of the firm’s annual meeting later Wednesday.

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15 Feb 2021

While Covid has been an unwelcome interruption for international teleradiology specialist (), “the company has still been able to take great strides in executing on its strategy and the growth potential of the business remains strong”, says Stuart Quin, chief executive.

Pre-lockdown, Medica fleshed out plans to double revenues in five years. It said it would invest GBP5mln-GBP6mln as part of a scale-up, with a push into international markets and new business areas also firmly on the agenda.

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22 Jul 2021

Medica PLC () is on track to deliver the fastest growth in the healthcare services sector, according to Liberum.

Even after a good run for the shares since the start of year, Medica remains the house broker’s top pick in the sector with a 235p target price.

Liberum said the latest trading update underlined revenues have been strong year-to-date with elective activity already back to 75% of pre-COVID levels and posed to accelerate further during the summer months.

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12 May 2021

Medica PLC’s () Dr. Stuart Quin talks to Proactive London’s Katie Pilbeam about their full year results for 2020 and his projections for the year ahead as the firm continue to see an improvement in their performance.

Elective procedures have already risen as the government’s accelerated immunisation programme reduces pressure on healthcare systems and allows a resumption of elective backlog procedures.

Quin says ‘elective surgeries are now 50% of what they were pre-covid and we expect that to continue throughout the year…. we are nicely positioned to be able to help with the recovery’.

03 Mar 2021

Medica Group is the UK market leader in teleradiology — the transmission, interpretation and reporting of radiological images, such as X-rays, magnetic resonance imaging (MRI) and computerised tomography (CT) scans, remotely from where the patient is imaged. This market has been growing strongly across the globe in recent years. In the UK the National Health Service (NHS) is increasingly turning to outsourcing to accommodate rising demand against constraints on in-house radiologist capacity. The company offers two main services: NightHawk, which is the reporting of urgent scans from night-time hospital admissions where a turnaround time of less than one hour is required; and Elective, which as the name suggests, provides reporting for routine procedures where the report is required within a day or two.

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Medica Group ready to support NHS with ‘backlog of over 4.7mln patients…

Medica PLC’s (LON:MGP) Dr. Stuart Quin talks to Proactive London’s Katie Pilbeam about their full year results for 2020 and his projections for the year ahead as the firm continue to see an improvement in their performance.

Elective procedures have already risen as the government’s…

on 12/5/21

2 min read

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