Shifa International Hospitals has substantially increased in volume of OPD and IPD visits

Topline Securities organized Corporate Briefing Session (CBS) of Shifa International Hospitals (SHFA) yesterday to discuss company’s financial results and future outlook.

Management informed that the performance of the hospital has substantially increased in volume of OPD and IPD visits. OPD visits are up 16% YoY to 378,011 visits and IPD visits are up 11% YoY to 149,371 visits in FY22. The revenue per occupied bed day have also increased from Rs56,710 in FY21 to Rs63,253 in FY22.

SHFA currently has more than 40 medical specialties and is the only hospital offering four transplant programs under one roof. These programs are Liver Transplant, Bone Marrow Transplant, Kidney Transplant, and Corneal Transplant.

Major milestones achieved during FY22 of the following programs since their inception includes; (1) 287 successful Corneal Transplants, (2) over 1,100 Liver Transplants, (3) 700 Kidney Transplants for adult and pediatric patients, (4) 350 Bone Marrow Transplants and (5) first unique Stem Cell Transplant.

The Oncology department has been equipped with a 4D CT Simulator scanner which was commissioned in FY22.

The hospital is assessing smart and innovative alternatives to scale up efficiency and reduce cost. Thus, management is in process of installing solar panels of up to 1.5MW Capacity.

Regarding upcoming projects, management informed that the Shifa Medical Center Islamabad in F-11 is expected to complete grey work in Dec-2022.

The 205 bed Tertiary Care Facility in Faisalabad under the name of Shifa National Hospital Faisalabad (Private) Limited is progressing as per timeline. The project is expected to complete in 20-24 months.

Shifa Care (Private) Limited is a technology development company having the capability to transform healthcare products utilizing latest trends in information, communication and digital technologies. The company has completed three sub modules of Hospital Supply Chain Management System during FY22 and it is expected to be integrated in the current year.

SHFA has operationalized the first phase of Shifa Neurosciences Institute in basement and ground floor of Dar ul Shifa in FY22 and planning the next phase of the project in FY23. The Project of Chemo Daycare expansion and Oncology inpatient will also be commissioned in 2QFY23.

The key risks faced by SHFA during FY22 includes (1) unusual increase in utility costs, (2) higher taxes, (3) higher interest rates, (4) significant rupee devaluation against US dollar, (5) higher inflation, and (6) political instability.

To recall, SHFA recorded profit of Rs1,163mn in FY22, up 66% YoY from Rs700mn in FY21. The revenue of hospital increased by 14% YoY to Rs16,198mn in FY22 from Rs14,220mn in FY21.

Courtesy- Topline Research

Posted in Health & Sports.

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