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In the context of the world-class clinical outcomes we deliver and the high expectations our stakeholders rightly have of private healthcare, the quality of care we provide is our most important competitive differential.

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The international Triple Aim objectives for improved health system performance stands as the foundational principle of Netcare’s approach, guiding our investment in increasing the capacity and capability to provide the best clinical outcomes and the best patient experience in the most cost-effective way.

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While there is growing demand for healthcare SA as a result of an increasing burden of disease and an ageing population, the provision of healthcare faces a number of challenges, including a chronic shortage of medical professionals and an inflexible regulatory regime. Due to failings in the public healthcare system, private healthcare is increasingly important in addressing national healthcare requirements.

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Despite a recovery in the UK economy and rise in employment rates, the Private Medical Insurance (PMI) market remains under pressure. However, BMI Healthcare continues to experience strong growth in NHS business but we remain cautious on how financial pressures and recent actions by the NHS and governing bodies may impact on our growth.

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Netcare is committed to and fully endorses the principles of good corporate governance as recommended in the Code of Corporate Practices and Conduct set out in the King Report on Corporate Governance for South Africa (King III) and the JSE Limited (JSE) Listings Requirements.

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Netcare delivered a solid set of financial results for the year ended 30 September 2015. In South Africa (SA), our business units improved operating margins through embedded long-term efficiency projects, despite a deterioration in the broader economic environment. In the United Kingdom (UK), BMI Healthcare completed a large-scale restructuring exercise and improved operating margins, delivering a strong performance in a persistently challenging market.

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