Swissmed sells shares to fund hospital expansion

The company already owns a hospital in Gdansk, to fund these new projects it will launch 13.6 million shares to raise more than zl 12 million. Swissmed is currently posting losses due to its foray into private hospitals, however, by the turn of 2006 and 2007 it plans to start breaking even. In five years the company's revenues are to exceed zl.100 million. A promising target considering last year 60% of Swissmed's income came from contracts with the National Healthcare Fund and the rest from private patients, while this year these numbers are reversed. The company claims it will achieve a margin of over 12 per cent in five years. In H1 this year, it posted revenues of over zl.8 million and a zl.2.5 million loss. (Puls Biznesu, p.12) J.L.