International focus delivers healthy growth for outsourcing group Synergy

November 12, 2013
By

Growth in China and a spate of new contract wins have helped Swindon-based outsourced health services group Synergy Health achieve strong increases in turnover and profits.

Adjusted interim pre-tax profits at the group, which specialises in medical sterilisation services, climbed by 10.4% to £51.2m on up by 12% to £192.1m.

Synergy said its strategy to invest in the US and Asia was showing signs of working and it continued to invest in developing the business for further growth.

Highlights during the six months to September 29 included  four contract wins in its UK & Ireland linen business valued at £2.1m a year, strong growth in Europe & Middle East and an outsourcing contract with  major Chinese hospital which contributed to 20/1%  revenue growth in the country.

Negotiations with a large US hospital organisation for an outsourcing contract, for which Synergy is preferred bidder, are at an advanced stage while it responded to continued weakness in the Dutch linen market by closing facilities, re-engineering processes and changing management.         

Chief executive Richard Steeves said: “The progression of opportunities in the US and in Asia supports our ability to grow and develop our HSS (hospital sterilisation services) business in these regions, which I believe will be a catalyst to future strong organic growth. In parallel, we continue our expansion of our global AST (applied sterilisation technology) network through organic growth and acquisition.”

 

Comments are closed.

ADVERTISE HERE

Reach tens of thousands of senior business people across Swindon & Wiltshire for just £70 a month. Email info@swindon-business.net for more information.