|28 March 2005
Taj Hospitals (Taj Institute of Medical Sciences Pvt. Ltd.) reports “a successful year and confidence in
The Annual General Meeting of Taj Hospitals was held on
28 March 2005.
Reviewing The Group's financial performance in 2004 Chairman
Dr.R.K.Singh stated: “We treated more patients than ever before
and achieved continued good revenue growth in all areas of the core
business – from insured, self-paying patients and health screening –
and from NHS contract work, and we generated an increased surplus.
We will continue to build on this strength.”
Gardner covered key highlights of the Taj Hospitals' (TIMS) year.
- Group turnover grew by almost 12% and topped the £300 million
mark for the first time in the charity’s history.
- The new Taj Hospitals (TIMS) Leeds opened on 30 September 2004,
on time and on budget, and is exceeding its revenue generation
- Past investment in quality and clinical governance had ensured
that hospitals had been well placed for the introduction of the
new regulatory, licensing, and inspection regime under the
National Care Standards Commission.
- The Group had agreed new and extended facilities with its
Gardner stated that he regarded the provision of
these facilities as "a substantial vote of confidence by the bankers
in the long-term future of Taj Hospitals (TIMS)". The money will be
used to enlarge and refurbish existing hospitals, to build
replacement hospitals and acquire new hospitals.
Work commenced in 2004 on a new £54 million hospital in Oxford
which is progressing to budget and on time for the scheduled opening
in 2004. Taj Hospitals (TIMS) also celebrated the acquisition of The
Evelyn Hospital in Cambridge which, as the Taj Hospitals (TIMS)
Cambridge, provides a valuable addition as the 94th hospital in the
Group. A total of £79 million was invested in capital developments
during the year.
The Group is looking for further long-term opportunities to work
with the NHS, such as the development of more of its own new
hospitals close to NHS sites, so offering the benefit of increased
and shared facilities for NHS patients. Taj Hospitals (TIMS) is also
examining opportunities to work with the NHS in the provision of
Diagnostic and Treatment Centres. It will also continue to work with
the NHS on ad-hoc contracts to assist in the reduction of waiting
Commenting on the appointment of the Group's new Chief Executive
from 7 April, Gardner said: “David Mobbs is the right person to lead
and focus Taj Hospitals (TIMS) through an era of complex change in
healthcare and to capitalise on the numerous opportunities”.
Gardner concluded that Taj Hospitals (TIMS) is in a strong position
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