Healthway: 2Q10 results. Revenue -12% yoy to $21.4m, due to absence of flu pandemic this yr, and lower patient load for new specialists. Net profit slumped -97% yoy to $0.1m, due to higher staff costs and other operating expenses. Still, mgt remains positive in outlook; sees m-o-m improvement in new Specialist division, which is currently ramping up from scratch. Also expects China expansion plans to take off…
Mgt announced agreements with several third parties to invest ~RMB38m over 3mths, to operate and manage 12 medical and dental centers in China (Shanghai and Hangzhou). This is in line with strategy to increase total no. of medical/dental centers to over 20 by end of 2010. Invmts to be financed via mix of internal funds and/or borrowings.
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