2 The Ramsay Way - 2015 | 02 CHINA HAS A LARGE & AGEING POPULATION WITH A BURGEONING MIDDLE CLASS New appointments to Ramsay Board TWO HIGH PROFILE WOMEN ARE THE LATEST DIRECTORS APPOINTED TO THE RAMSAY BOARD – MS PATRICIA AKOPIANTZ & MS MARGARET SEALE. BOTH DIRECTORS HAVE OVER 30 YEARS EXPERIENCE IN SENIOR EXECUTIVE ROLES & IN HIGH PROFILE BOARD POSITIONS. Chairman Michael Siddle welcomed the new appointments and said he was pleased that the extensive global search process had yielded two high calibre candidates. “Both new directors have accomplished careers in senior leadership roles across a wide range of sectors. They will be valuable additions to the skill set of the Ramsay Board. We look forward to benefiting from their insight and experience,” Mr Siddle said. Both the new Board members will be non-executive directors and are considered by the Board to be independent. Ms Akopiantz has over 30 years experience in consumer-facing businesses in Australia and overseas. A non-executive director for the last 14 years and having served on numerous boards including Coles Groupand Energy Australia, Ms Akopiantz was previously with McKinsey & Company where she helped lead the Retail and Consumer Goods Practice. Her executive career included roles as General Manager Marketing at David Jones and Vice President for an American apparel manufacturer. She has an MBA from Harvard Business School. Ms Akopiantz currently serves as a non-executive director on the Boards of AMP Limited and AMP Bank. She is Chairman of AMP’s People and Remuneration Committee. Ms Seale has more than 30 years senior executive experience in a wide range of corporate and commercial roles. Most recently as the Managing Director of Random House Australia and President, Asia Development for Random House globally, she successfully managed the business through a period of significant digital disruption. Previously she was Chief Executive of The Macquarie Dictionary and Lansdowne Publishing, and Chief Executive of The Juvenile Diabetes Foundation. Ms Seale serves as a non-executive director on the Boards of Telstra and Bank of Queensland and continues to sit on the Board of Random House Australia and New Zealand. CEO’s report Business Doyen Warren Buffett recently told about 40,000 shareholders at an annual general meeting in Omaha, that “Culture” is everything in his business. “Culture has to come from the top. It has to be consistent. It has to be part of written communications and rewarded when followed and punished when not,” he said. He counts the success of his business on the unrelenting emphasis on instilling the right culture into the DNA of the company. And, this is also what I believe to be the case at Ramsay Health Care. In many cases our companies are very similar – operating for half a century, successful track records in business - increasing shareholder returns year on year and continuing to exceed market expectations. Yet, in both companies, we believe that our success comes from our culture – and an unrelenting emphasis on instilling the right culture into our DNA. Yes, Ramsay Health Care has made some good business decisions, but ultimately setting our culture – The Ramsay Way - and fundamentally imbedding this into our everyday workings, is what has made us successful. At the forefront of setting the right culture is selecting the right people – quality individuals - who will reinforce the culture and devote adequate resources to it. I heard our founder Paul Ramsay say many times, that choosing the right people was what had made him successful. We continue to operate according to this principle. As I visit our hospitals throughout the country, I am always impressed by our people, your work ethic and the affinity that you all have with each other – with the doctors and with the patients. All our staff live and breathe The Ramsay Way culture and meeting you and seeing this in action is the best part of my job. We recognise that our people and the culture that you help us to instil is the key to our success and in acknowledgement, the Board has again decided this year, to reward our long serving employees with a free share offer. Over 13,000 employees will receive these free shares in Ramsay, in appreciation of the part you play in our success and the part that you play in setting our culture. As this financial year draws to a close, I want to thank you for the part you play in the success of our company but more importantly the part you play in The Ramsay Way. In total, it is contemplated that the joint venture will involve these five hospitals with approximately 2,300 beds and a focus on women’s health, mental health, and traditional Chinese medicine. The RSD joint venture was formed on 1 July 2013 and currently operates three hospitals in Malaysia and three hospitals in Indonesia. It also operates a nursing and health sciences college in Malaysia. Ramsay Managing Director Chris Rex said the joint venture with Jinxin was an excellent entry point for RSD into the Chinese healthcare market and the largest economy in Asia. “China has a large and ageing population with a burgeoning middle class and more recently, has developed a positive outlook on healthcare reforms,” Mr Rex said. “We look forward to applying our proven healthcare management expertise to the Jinxin hospitals in Chengdu and to exploring future opportunities that may arise both in the Sichuan province and elsewhere in China.” Sime Darby Berhad President and Group Chief Executive Tan Sri Dato’ Seri Mohd Bakke Salleh said the joint venture with Jinxin was a good start for RSD as it sought to build a portfolio of quality hospitals across Asia. “Both partners - Ramsay and Sime Darby - have been keen to expand our hospital portfolio in Asia and this new deal with Jinxin, a reputable hospital operator, provides RSD with a foothold in a very attractive market and allows it to accelerate our growth plans in the region,” Tan Sri Bakke said. The deal is subject to the parties satisfying all conditions precedent, so a timeframe for final completion of each phase of the transaction has not yet been established but it is envisaged that both phases will complete in FY16. Newly appointed Board members: RIGHT: Ms Patricia Akopiantz &; BELOW: Ms Margaret Seale. The new Sichuan International Women & Child Center Hospital. I WANT TO THANK YOU (OUR STAFF) FOR THE PART YOU PLAY IN THE SUCCESS OF OUR COMPANY BUT MORE IMPORTANTLY THE PART YOU PLAY IN THE RAMSAY WAY.
The Ramsay Way - Winter 2015
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