Overview

The St Vincent’s Health Australia Managed Group generated an operating surplus of $8.4m for the year ended 30 June 2019 (2018: $50.5m). Operating surpluses enable continued investment in patient care, research, technology, employee future benefits and capital expenditure.

The operating surplus for the Managed Group reflects increased depreciation following investment in facilities and equipment and increased employment expenses in an environment of slowed activity growth. Reserving an operating surplus supports SVHA in continuing to invest in patient care, research, technology and capital expenditure.

The total surplus for the Managed Group of $24.6m (2018: $62.6m) reflects the lower operating surplus and reduced one off capital funding income. The Managed Group net assets of $1.0b includes the investment in facilities and aged care acquisitions.

During the financial year, St Vincent’s Health Australia became the sole member of St Vincent’s Private Hospital Northside as a wholly owned entity (2018: 50% equity accounted). St Vincent’s Care Services also transitioned five aged care facilities as part of the division’s growth strategy.

Assets operating net Surplus total $8.4M $24.6m Surplus $1bn
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