The businessman Antoni Ramis, the financial director of Juaneda hospital said that in these last months, more than $1.18 million (€1 million) were already invested.
The company continues in its efforts to recover after a complicated 2018 and 2019, after an adjustment that led to a redundancy program that affected more than one hundred employees of the group’s companies: Juaneda Agrupación Médica Balear, Juaneda Servicios y Procedimientos and Servicios Integrales de Sanidad.
In order to leave this behind, Juaneda has three pillars of growth, which according to Ramis are personnel efficiency, technological renovation, and the enhancement of assets. The head of Juaneda’s financial area acknowledges that, in terms of staff efficiency and structure, the ERE has brought the group a monthly saving in personnel costs of $353,000 (€300,000).
Regarding the technological renovation, Ramis refers to a process that is less visible for the client and that is related to the software modifications and the unification process in the different centers, as well as the response to the client. In relation to the value of the assets, the hospital operator is working in the implementation of a new hospital in Ciutadella (Menorca), which has a total cost of $17.7 million (€15 million).
Read more about the investments in technology that the Juaneda hospital plans to do and be the first to find the most important business headlines with the Born2Invest mobile app.
Juaneda plans to open a new hospital in the Minorcan city of Ciutadella in 2022
The new hospital, described by Ramis as the “great flagship” and for which the company already has the relevant licenses for its construction, will have one floor and is a modernization of the current center that already exists in the Minorcan town. “It will be a hospital with state-of-the-art technology located in the west of Menorca and with which we are confident that we can attract both national and international patients,” he explained.
The execution planning of this hospital is of a period of fifteen to eighteen months, with which the Spanish hospital group trusts to have it available from April or May of 2022. On the other hand, with regard to the health crisis derived from the coronavirus, Juaneda’s financial director explained that the pandemic “did not mean that we had to take labor measures during these months.” However, the executive acknowledged that “the COVID-19 hurt us by $5.9 million (€5 million), and the intervention by the State slowed us down.” Ramis removes iron from the matter and added that the company reacted quickly by relying on financial institutions.
The company estimates a reduction of at least $23.6 million (€20 million) in its turnover in 2020
During the second quarter of 2020, Juaneda’s production was “drastically” reduced, Ramis indicated, and in July the company received 70% less foreign tourists than normal in the middle of the summer season.
Juaneda closed the 2019 financial year with a turnover of $140.8 million (€119.5 million) and a gross operating profit (Ebitda) of $12.7 million (€10.8 million). By 2020, the group estimates a reduction of between $23.6 and $29.5 million (€20 and €25 million) in its revenue and an Ebitda that will be $1.77 million (€1.5 million) or $2.36 million (€2 million). The year 2020 will be an atypical year for Juaneda’s accounts, and the group expects that in 2021 the results of 2019 will be achieved, with a view to overcoming the barrier of fifteen million euros in Ebitda in 2022.
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.
The multifaceted benefits of Augmented and Virtual Reality in education
Virtual and Augmented Reality (VR and AR) technologies are often praised in education for their ability to deliver higher levels...
Burkina Faso validates a new project to increase access to energy in rural areas
Burkina Faso's project under the African mini-network program of the Global Environment Facility and the United Nations Development Program (GEF-UNDP)...
A crowdfunding campaign was launched by Biofarm, the first digital farm in Europe
A crowdfunding campaign was recently launched on the CrowdFundMe portal in Italy, by Biofarm. The campaign aims at raising $973,000...
Quirónsalud’s owner grows 6% in Spain and exceeds €3.4 billion in 2020
In the last quarter of 2020, Fresenius Helios Spain's revenues were $1.2 billion (€999 million), 15% more than in the...
New capital injection for B2B fintech company Penta
The fintech company Penta has increased its latest financing round to $36.5 million (€30 million). The fresh capital could also...
Cannabis7 days ago
The ANMAT will allow the importation of cannabis-based products in Argentina
Crypto7 days ago
How LODEpay’s Price Oracle is Tackling Silver Spot Price Manipulation
Crowdfunding7 days ago
Trusters closes the first real estate lending crowdfunding campaign for a widespread housing project
Crypto7 days ago
Bitcoin’s price could reach $1,000,000 in this bull run, says Kraken’s Dan Held