The coronavirus pandemic disrupted Clínica Barraquer’s investment plans. The ophthalmology group has modified the projects it had planned to carry out during the second half of the year and has updated phases, deadlines and budgets. The company has decided to halve, to $1.13 million (€1 million), the investments initially planned for the summer.
Barraquer has 300 workers in its 13,000 square meter center. The ophthalmological group’s turnover was $41.6 million (€36.4 million) in 2019, which represents an increase of 3% with respect to 2018. The company receives 150,000 visits a year, performs 16,000 surgeries a year, and attends 13,000 emergencies a year. Barraquer’s management met before the summer to decide “which investments should be postponed and which could be carried out in the short term,” according to company sources.
The ophthalmology group has a clear roadmap for completing the reform projects it has been working on over the last few years, although it is studying the new deadlines in which they will be carried out. “In the second half of the year we are going to invest around $1.13 million (€1 million), 50% of what was initially planned,” the company said. This amount will be used to finance equipment such as lifts, signage and common spaces in the center in Barcelona.
The company’s objective is to implement these two projects as soon as possible to improve the vertical communication of the infrastructure, as well as to adapt the consultation area.
Find out more about the way the coronavirus affected the investments of the company Barraquer and read the latest business news in the world with the Born2Invest mobile app.
Barraquer reduces up to $1.13 million (€1 million) the investments in infrastructure
On the other hand, the investment in the hospitalization area that Barraquer was initially going to start at the end of the year will have to wait until 2021. Sources from the group explained that no investment is being canceled, although the projects will be delayed in time and the completion of all the work may be delayed by one or two years over what was initially planned.
Barraquer explained that the management must be prudent due to the uncertainty of what may happen with the pandemic in the coming months and the possibility of new situations of confinement that may affect its activity. The objective is to continue remodeling the center within a time frame that is adjusted to maintain its viability, both from the economic and execution points of view.
In addition, the company takes into account that infrastructure reforms are carried out while patients continue to be treated, so it is crucial to plan the works at the right times of the year to minimize the inconvenience they may cause. The aim is to make the center more functional and comfortable while continuing to offer services.
The Barraquer UAE Eye Hospital in Dubai continues on schedule and the company expects to open it by the end of the year
In relation to international projects, the construction of the Barraquer UAE Eye Hospital in Dubai (Arab Emirates) has not been affected by the health crisis and continues to progress as planned.
The new hospital is expected to be opened by the end of this year. The company estimates a turnover of between $18.3 to $22.8 million (€16 and €20 million) in five years’ time with this center. Finally, Barraquer was finishing in March the reform works of the seventh floor of the center in Barcelona that affected the restoration area, as well as an administration area. The first works were completed just before the impact of the pandemic and the work that was left pending has now been resumed.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Delayed Brazilian entrepreneurship law: the harms to entrepreneurs
Regulations that were signed into Brazilian law on 28 February of this year have experienced a two month delay in...
A divided nation—a divided market: Credit Suisse weighs in on the presidential race
The US has never been more divided and this is being felt in the markets. The outcome of the presidential...
Battle of the markets: attacking the African hinterland
Containerized freight moving through the African continent’s ports is exploding. Even during any period of global deceleration, the continent’s container...
Crypto players want to be better regulated: are they crazy?
It is unusual to hear that a large number of industry stakeholders want stricter regulations, but this is exactly what...
Microfinance: a wise addition to the conscious investor’s portfolio?
In addition to microloans, microfinance institutions are increasingly offering savings accounts, insurance products and other related services, expanding the range...
Featured7 days ago
Green bonds, ESG and Covid bonds in fixed income funds
Featured6 days ago
IOTA secures its supremacy in the energy market with European partnership
Africa6 days ago
How the Ministry of Agriculture is trying to help farmers in Burkina Faso
Featured4 days ago
Are we moving towards 100% renewable energy in the coming years?