Transform Hospital Group Limited (THGL) has reported strong financial results for the year ending 31st December 2021.
The Manchester-based healthcare and wellbeing provider, which specialises in cosmetic surgery, weight loss surgery and medical aesthetics, has posted revenue growth of 47% year-on-year to £47.8m and a gross profit increase of 35% to £20.5m.
Operating profit rose to £1.5m compared with a marginal loss in 2020. Private patient numbers were also bolstered, increasing by 63% year-on-year.
The growth has been driven by a successful pivot in business strategy led by a strong senior management team that includes Commercial Director David Shirra, Clinical Services Director Christine Mozzamdar and Finance Director Vicki Milton.
As well as quickly adapting to become a partner to the NHS during the Covid-19 crisis, caring for more than 3500 health service patients between 2020 and 2021, THGL has diversified its business to become a broader-based healthcare and wellbeing provider.
It now offers an expanded range of services, including orthopaedics and general surgery, to a wider customer base, and has launched a B2B brand offering ‘white label’ services to other healthcare providers, independent surgeons and surgeon consortia.
David Shirra, Commercial Director at Transform Hospital Group Limited, said: “Our focussed commercial and marketing efforts, combined with improved operational effectiveness and new agile ways of working, have driven diversification in our service offering and improved utilisation of our facilities. However, we have also continued our growth trajectory in our core markets of cosmetic surgery and bariatric surgery.
“Our financial results are encouraging and while our growth is set to continue throughout 2022 and into 2023 and beyond, we measure our success on more than just financials. For us, the priority is sustaining success and that depends on the quality of the work we do and how we interact with our customers.
“Our TrustPilot ratings across our brands continue to strengthen, now sitting at a minimum 4.5/5 ‘excellent’ score, and we are investing in areas that help us to better serve our patients, such as telemedicine.
“Success also rests on our ability to continue developing in new areas, and our expansion into more general healthcare is indicative of this, as is the recent launch of our B2B Electiva brand, which has seen us extend our services further to NHS trusts and independent healthcare providers.”
Christine Mozzamdar, Clinical Services Director, said, "We have made significant investment in order to support diversification in the treatments we are able to provide, both in recruitment and in the development of new clinical competencies. At the same time, our regulatory performance has continued to improve markedly year on year.
“Demand for our core services has now returned to pre-pandemic levels and we have been able to strengthen our market position. Continuing to own this space, coupled with our roadmap to develop new areas of our business, leads us on the path to significant overall growth.”
About Transform Hospital Group
Transform Hospital Group is a leading healthcare and wellbeing provider and the UK’s leading provider of cosmetic interventions – both surgical and non-surgical – and weight loss solutions. Established over 40 years ago, the company operates two state-of-the-art hospitals – Burcot Hall in Birmingham and The Pines in Manchester – as well as a nationwide network of clinics which cover most major towns and cities in the UK.