Company
 
Performance
 
Financials
 
Governance


 

ABANO DIAGNOSTICS

our businesses

Abano operates in two areas of the diagnostics sector - Pathology and Radiology. The diagnostic sector provided 27 percent of Group revenue in 2008.

In Pathology, Abano has a 55 percent shareholding in Aotea Pathology, a joint venture with Sonic Healthcare. The business holds a five year $102 million fixed-price exclusive contract for community pathology in the wider Wellington region. The contract commenced on 1 November 2006. As part of this contract, Aotea charges patients for private specialist tests, over and above the public contract.

The business provides services including collection, testing and reporting of pathology tests from community-based patients to diagnose and monitor disease. Pathology revenue is approximately 84 percent funded by local DHBs with 16 percent from private testing, commercial testing and research. Pathology is considered a Hold and Maintain business stream for Abano.

In Radiology, Abano owns 73 percent of Ascot Radiology, with clinical radiology partners holding the remaining 27 percent equity. Ascot provides a full modality scanning service for patients from three clinics in Auckland. Sixty-one percent of revenue is from private patients with 27 percent from ACC and the remaining funded by DHB and MOH contracts. Ascot Radiology is focused on providing the best diagnostic care and invests significantly in the latest generation equipment and technology. The business is seen to have strong growth opportunities.

FINANCIAL PERFORMANCE

 Financial Performance





* After allocation of corporate overhead. ** Sale of Nelson Diagnostics and establish Aotea Pathology under new, enlarged area contract with DHBs. *** Equity accounted contributions from Ascot Radiology and Greenlane Imaging commenced.


PEOPLE DEVELOPMENT IN Diagnostics

The diagnostics businesses employ nearly 300 people. Both businesses have a number of initiatives in place to reward staff, and are focused on providing a challenging and stimulating work environment based on leading edge technology, equipment and clinical expertise.

  • Aotea Pathology strives to create a healthy environment – EAP services, Quit Smoking support, physical activity based recreational activities, work Weight Watchers, Pilates lessons, healthy eating options
  • Encouraging and funding professional development through attendance and presentation at conferences and seminars
  • Pathology in house training programmes for attaining qualifications – phlebotomy and laboratory technicians - and laboratory based lecture series
  • Recognition of staff contributions through staff functions, performance based financial recognition and recognition of length of service
  • Establishing core values and reinforcing these within the laboratory practice
  • Initiatives to keep staff included and informed in an environment of trust and equity
  • Implementation of a formal performance management system
Click to download the "Abano Diagnostics" document as pdf ( 158 kb )