Ramsay Health Care (RHC) CMD 2026 summary

Strategic vision and future plans

• Launched Connecting Care 2030, a strategic plan focused on profitable growth, medical excellence, and building on diversification and integration.

• Five pillars: active portfolio and contract management, integrated and accessible healthcare, digital transformation, cost initiatives, and new revenue streams.

• Emphasis on outpatient, digital, and integrated care pathways, with expansion in imaging, primary care, and mental health.

• Plans to leverage medical excellence, people, data/AI, brand, customer centricity, sustainability, and IT infrastructure as core capabilities.

• Growth targeted in both public and private segments, including Sweden’s PHI and occupational health markets.

Financial guidance and performance

• Revenue growth guidance of 2–3% for the coming year and 3% CAGR over the next three years, with stable EBITDA margin at 11.9% and gradual improvement expected.

• Performance actions delivered €80 million additional EBITDA in FY 2026, with further cost and productivity initiatives planned.

• Gross CapEx planned at 4% of revenue, with disciplined capital allocation and no major new projects anticipated.

• Continued deleveraging targeted, aiming for net debt/EBITDA below 4, down from 4.7% in June 2026.

• Real estate strategy to maintain a 20% owned/80% leased ratio, using assets for financing flexibility.

Market positioning and business developments

• Pan-European leader with operations in five countries, serving 13 million patients annually, and holding top market positions in France, Sweden, and Denmark.

• Diversified revenue streams: MSO, primary care, imaging, mental health, and geriatrics, with non-France revenue now at 33% of total.

• Strong barriers to entry due to regulation, authorizations, and medical expertise, especially in France.

• Digital transformation and AI innovation prioritized, with successful rollout of digital tools and AI-driven solutions in patient care and administration.

• High patient and employee satisfaction scores, with NPS of 74 in France and 69 in Sweden, and engagement scores of 87% in Sweden and 65% in France.