It gives me great pleasure to present the 2016 Annual Report for Monash IVF Group. Monash IVF Group has delivered a strong financial result for 2016 derived from a business focus on developing and maintaining industry leading science and technology in assisted reproductive services and womens imaging.Read more
Strong revenue growth of 25.3% or $31.6m enabled Monash IVF Group to deliver a 34.6% increase in reported NPAT to $28.8m in FY16. The most pleasing aspect of the growth is that 10.7% of the revenue growth was organic, driven by both market share growth and above trend IVF industry growth rates.Read more
Monash IVF Group’s strong FY16 performance reflects the quality of our businesses, a clearly articulated and executed growth strategy, and the commitment of our employees and doctors to delivering high standards of care to patients across our facilities. We’ve enjoyed a strong year of both revenue and EBITDA growth.
Over the coming 2-3 years, Monash IVF Group will focus on driving growth and value through 7 key pillars:
We now have an expanded network of fertility related services with over 40 IVF clinics, ultrasound practices and service centres across Australia and Malaysia.
This year marks the first full year of ownership our Sydney Ultrasound business, a business acquired in June 2015. The combination of Sydney Ultrasound and Monash Ultrasound for Women’s 17 locations now represents almost 17% of Monash IVF Group’s revenues. We now provide in excess of 80,000 scans a year for a wide range of female health issues.
Our international operation on the Malaysian peninsula – KL Fertility – continues its growth with revenues up 10.7% and patient treatments up almost 20%.
The Group’s “Embryo Screen” technology remains amongst the most advanced embryo genetic screening test available in Australia.
As a group of companies with more than 500 laboratory and medical staff we have been able to develop strong mechanisms to disseminate clinical best practice across the group.