Medical centres and pathology operator Primary Health Care has made a full-year loss of $517 million, after writing-down the value of its medical centres business.
The company says it was hit with a non-cash impairment charge of $587 million in relation to its Medical Centres unit and underperforming sites, including the old Symbion sites.
It said it had also invested $39.2 million in restructuring and strategic initiatives and recorded $18.1 million of non-recurring items.
Primary said its underlying profit, which excludes the impacts of impairments and non-recurring items, was down 4.9 per cent to $92.1 million with a strong performance in its imaging and pathology units partially offsetting the decline in earnings in its Medical Centres …
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