Eko Hospital, its major subsidiary, in the last six months, Ciuci Consulting, the interim managers of EkoCorp Plc, are currently in talks with strategic investors to raise the financial profile of the healthcare firm.
This was one of the plans for the next phase of the transformation agenda of the company, which started last March.
According to its interim Chief Executive Officer, Chukwuka Monye, the six- month first phase of the transformation programme was largely focused on laying a solid foundation for the improvement of the operations, finances and patients’ experience of the 40-year old hospital.
Briefing the press, in Lagos, alongside the interim management team, on landmarks achieved in the last six months, Monye, who is also the , said, “At the beginning of 2018, the Board of EkoCorp Plc made a decision to launch a transformation programme, a key objective of setting the organisation on a path for growth. The first phase of a six-month period, which started in March, was largely focused on improving the operations of the organisation by optimising processes, enhancing the financial management systems and improving patients’ experience.”
The interim CEO, whose term expired at the weekend, said it was imperative to address fundamental operational issues before embarking on the growth agenda “so that the implementation of the related strategies are sustained and all stakeholders can enjoy the resulting benefits.”
In its own presentation, the interim Chief Financial Officer, Mr Ayodeji Adewale, said a solid foundation has been laid for dividend payment by the organization.
His words: “For over a decade now, we have not talked about dividends. That is not good enough for the investors. So we have laid the foundation for this to start running. In terms of revenue generation, cost reduction and funding, we are talking to a number of people for strategic partnership so that we can have necessary funding to take this company to another level. We are also in strategic partnership; we have opened talks with some key players in the healthcare sector, and we are hoping that there will be a turnaround in the revenue generation of Eko Hospital.
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“Likewise, we have done some analysis to look at those cost elements that will actually take advantage of cost reduction, and reduce the cost profile of the company as much as possible.
“All these will turn into profitability to the investors’ delight. That is what the investors want to see. We have laid all these foundations. We hope that in the nearest future, they will start yielding positive results”.