Elite Diagnostics to open third location in Drax Hall, St Ann
Medical imaging provider, Elite Diagnostics will open its third location in Drax Hall, St Ann next month.
The new location will bolster medical services in the parish but also provide added revenue for the firm whose shares are listed on the Jamaica Stock Exchange (JSE).
“The construction of the new location is completed and the company expects to open its doors in September 2019,” said the company in its quarterly report.
The new location will have full imaging services and doctor's offices.
Elite operates two locations in Kingston on Holborn Road and Old Hope Road.
Profit at Elite Diagnostics jumped in the fourth quarter eightfold as it extended opening hours at its Liguanea location.
Net profit for the quarter was $24.6 million compared to $3.0 million for the same period a year ago. Revenues were $115.1 million for the 4th quarter compared to $79.0 million for the same period last year.
“The increase in revenue was due to greater utilisation of the Liguanea branch which also extended their hours of operation. Demand for imaging services remains strong and the company continues to execute their plan providing exceptional patient care, excellent service, expanding its services and gaining market share,” said the company.
The quarter also benefited from a decrease in the equipment repairs and administrative expenses for the quarter when compared to the same period a year ago.
Year-to-date net profit before tax for the 12 months was $47.4 million compared to $35.8 million for the same period a year ago. Revenues for the 12 months was $404.3 million compared to $298.2 million for the same period a year ago.
Total Assets grew from $591.7 Million to $652.2 million while total liabilities grew from $192.2 million to $205.9 million.