Swissmed delays its debut but hints at good news to come

"We decided to put off our offering because, first, another medical company [EMC] debuts on the bourse now and, second, we expect good news during the holiday period, which may improve the company's share price," explained Swissmed president Roman Walasiński. The company plans to collect zł.13 million from the floor. It wants to earmark zł.7-8 million for financing investment in a hospital in Gdańsk and zł.1- 4 million for preparatory works related to the building of a hospital in Warsaw. Another zł.1-1.5 million will be allocated to the company's working capital and zł.0.5 million for the building of a franchising network and a network of medical partners. Swissmed recorded revenues of zł.2.9 million in Q1 2005 and a net loss of zł.1.3 million. Walasiński stated that this year's results are compliant with the plan and Swissmed's revenues in 2005 will amount to zł.12-14 million. (Parkiet, p.3) E.B.