Not withstanding its not-for-profit status, St John of God Health Care Group is showing itself to be a strong business. It recently ranked 78 in Business Review Weekly's list of top 500 Australian private companies. According to BRW, revenue for St John of God was up 15% in 2005 to $504.3m, an increase of 15% on 2004 bolstered by the acquisition of two regional hospitals and a pathology business. The pathology division's revenue is $85m, making it the fourth largest private pathology provider in Australia. Future projections show revenue increasing to $700m by 2007/2008. The group is planning to spend $157m in capital expenditure this financial year, including $100m on its flagship hospital at Subiaco. The group employs over 6,500 people Australia wide.

IPN Group, the parent of Foundation Health Care has cut losses for 2004/2005, down by 98% to $200,000. This compared to last year's net loss of nearly $12m. With a mere 10% increase in revenue to $90m, earnings before interest, tax, depreciation and amortisation (EBITDA) increased 265% to $7.8m. The addition of Endeavour Health Care centres added $11.6m to total revenue. The company also reported the sale of seven loss-making centres, reducing its total centres under management to 83 at the end of the financial year. The company noted a cost increase of only 4% against a revenue increase of 10%, with increased favourable impact from the Medicare rebates increase in January. No replacement CEO has been announced.

Primary Health Care reported a profitable year - net profit increase of 47% to $42.2m. Total revenue increased 26% to $191m, mainly from existing centres ($116m) as only three new centres had opened during the year. The Company plans to open seven new centres during this financial year - giving a total of 31 by June 2006. Profit and revenue growth were forecast for the Medical Centre Health Technology and Pathology divisions. Primary share price has rocketed to over $10, proving one can make money in general practice.

Mayne Group reported an increase in earnings before interest, tax and significant items of 11% to $174m. This was on increased revenues of 9%. Diagnostic services that include Mayne Pathology increased revenue 7% (but EBITDA increased 15%). The Medical Centres business has improved its EBITDA and operating margins for the third consecutive year but breakdown on its revenue and profits are difficult to piece out. The company said it was on track with its planned de-merger.

Clinipath owner Sonic Pathology also put in a record result, with revenue growing 33% and net profit up 34% to $77m. The company has for the first time consolidated IPN in its accounts and this led to a dilution of margins. The company's English and German divisions are described as performing well and Sonic announced its first move into the US with the purchase of an 80% interest in Clinical Pathology Laboratories (CPL), based in Austin, Texas (purchase effective from October 05).