Sat | Oct 19, 2019

Elite Diagnostic expands to St Ann

Published:Sunday | October 6, 2019 | 12:11 AM

Health service company Elite Diagnostic Limited is projecting that its new location, which opened for business at Drax Hall, St Ann, will weigh on its finances initially.

“The St Ann location opened its doors in September 2019, and the company is very optimistic about the potential of that location,” said Elite.

“Although in the short term the new St Ann location’s expenses will weigh on the overall profit, the company expects a quick turn around to profitability at that location,” the company said in its year-end financial report. The St Ann location offers MRI, CT scan, ultrasound, and X-ray services, and doctor’s office.

Elite, which also operates from two other locations in Kingston – at Old Hope Road near Liguanea, and Holborn Road in New Kingston – recorded double-digit growth in revenue for year ending June 2019, from $297.8 million to $404.9 million. Profit increased by 16 per cent to $52 million.

The company grew revenue by increasing the opening hours at the Old Hope Road centre to accommodate the increased demand for imaging services.

CEO Warren Chung was not reached for comment on the financial results, but Elite said in the financial report that it continues to “execute its plan” of providing patient care while investing in modern equipment. Part of that investment resulted in the growth of its assets over the past year, from $592 million to $664 million.

steven.jackson@gleanerjm.com