Medical center Confido has been suffering major losses for the second year in a row. Last year, the company reduced the number of physical premises: out of five express clinics located in shopping centers, only two remained open, writes Business paper.
AS Arstikeskus Confido was registered in 2012. The company’s main activity is the provision of health care services, including general, specialized health care and nursing care.
For the second year in a row, the company has been making significant losses: in 2023 and 2022, the losses amounted to 7 million and 7.4 million euros, respectively. In 2023, the company’s labor costs also increased – a total of about 14.8 million euros were paid out. On average, Confido employed 597 people.
Overall operating expenses for the year decreased by 6%, and this decrease began in the second half of the year. The closure of express clinics in shopping centers and the refusal to rent some office space, as well as internal optimization of the company’s structure, had a significant impact.
Despite the losses, the medical center increases its turnover every year. In 2023, it amounted to 20.78 million euros, compared to 19.9 million euros the year before.
The report says that the growth in operating revenue was mainly due to the provision of specialised medical services in Tallinn and Tartu. The revenue of the surgery centre, which had been invested in the previous year, doubled.
The medical centre belongs to the Confido medical group, whose parent company is Confido Healthcare Group OÜ. The merger with Confido Group companies, such as AS Tamme Erakliinik, OÜ Perearsti Nõuandeliin and Nordic Imaging OÜ, also had a positive impact on revenue growth.
Confido is 100% owned by Margus Linnamäe.
Source: www.dv.ee
