Swissmed looks forward to breakthrough in 2005 and IPO

Roman Walasiński, the president of Swissmed, announced that 2005 would be a breakthrough year for his company, as the firm might post its first ever profit next year. Development strategy envisages constructing a hospital in Warsaw with use of money obtained from floating shares in the future. At the same time Swissmed is planning an IPO worth roughly zł.15 million, the proceeds from which would be designated to cover obligations towards suppliers and to create a franchise network of clinics. "Entering the bourse will help us gain investors' trust. The other floatation would raise capital which would be spent on building a new hospital," said Walasiński. The company already owns one hospital in Gdańsk, which cost an estimated zł.52 million to build and which should return on the investment in about 10 years. (Parkiet, p. 4) M.M.