Netcare is better prepared for second COVID-19 wave, says CEO Friedland

Netcare, one of South Africa's leading healthcare providers, has faced a challenging year due to the impact of the COVID-19 pandemic. In a recent interview with CNBC Africa, Netcare CEO Richard Friedland addressed the financial implications of the virus on the company and outlined the steps being taken to navigate through these uncertain times. Friedland acknowledged that COVID-19 had a devastating impact on Netcare's financial results, with an estimated loss of R2.3 billion in EBITDA. Despite this significant setback, Friedland emphasized the resilience and dedication of Netcare's staff in the face of the crisis. He highlighted the sacrifices made by frontline healthcare workers and the company's commitment to providing quality care to the South African population. Looking ahead to a potential second wave of COVID-19, Friedland expressed confidence in Netcare's preparedness. He noted that the lessons learned during the initial wave of the pandemic had better equipped the company to handle future challenges. Friedland stated that Netcare was not planning to allocate its entire network to COVID-19 patients in the event of a second wave, and highlighted the improved treatment protocols that had led to a reduction in patient stay times. Despite the economic uncertainties facing South Africa, including a recent ratings downgrade, Friedland remained optimistic about Netcare's ability to weather the storm. He emphasized the company's commitment to preserving jobs and supporting its workforce during these difficult times. Friedland acknowledged the potential impact of rising unemployment on medical aid memberships but reaffirmed Netcare's dedication to its employees. One potential ray of hope for Netcare and the healthcare sector as a whole is the development of COVID-19 vaccines. With several candidates showing promising efficacy rates, Friedland expressed optimism about the possibility of a vaccine becoming available in the near future. While the exact timeline for vaccine distribution in South Africa remains uncertain, Friedland indicated that frontline healthcare workers and vulnerable populations would likely be prioritized. In conclusion, Friedland's message was one of resilience and solidarity in the face of adversity. Despite the challenges posed by the COVID-19 pandemic and the economic fallout, Netcare remains steadfast in its commitment to providing quality healthcare services to the people of South Africa.