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Netcare profits hit by Covid-19. Embarks on a job preservation strategy

23 November 2020 7:05 PM

The Money Show’s Bruce Whitfield interviews Dr Richard Friedland, CEO at Netcare.

Netcare’s profits fell 82.3% (to R439 million) in the year to 30 September 2020, the company reported on Monday.

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Right now, trending on The Money Show:


Group revenue fell 12.7% (to R18.8 billion).

Patient numbers fell by about a fifth, reported South Africa’s largest private hospital group.

Netcare treated 28 016 Covid-19 patients up to the end of September of which about half were admitted to hospital.

The Money Show’s Bruce Whitfield interviewed Dr Richard Friedland, CEO at Netcare.

The Health Ministry handled the crisis extremely well…

Dr Richard Friedland, CEO - Netcare

The pandemic is not over… We’re seeing a surge in the Eastern Cape… a lot depends on our behaviour… social distancing, wearing a mask, handwashing… We’re also seeing increases in the Cape Town metro and Garden Route…

Dr Richard Friedland, CEO - Netcare

We’re beginning to understand Covid-19 better… We don’t understand the long-term consequences. Until we have an effective vaccine, Covid will be a threat to our society… Can we get a vaccine early enough in South Africa? …

Dr Richard Friedland, CEO - Netcare

It’s the first time in our 23-year history that we haven’t been able to pay a dividend… We’re embarking on a job preservation strategy… our staff has sacrificed so much… Preserving jobs is more effective than creating them…

Dr Richard Friedland, CEO - Netcare

We’re confident of a recovery in the second half of next year…

Dr Richard Friedland, CEO - Netcare

This was our finest hour… We dealt with enormous existential anxiety, nurses worrying if they will take this home to their children…

Dr Richard Friedland, CEO - Netcare

Listen to the interview in the audio below.


23 November 2020 7:05 PM

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