Vhi Healthcare Announces Financial Results for Y/E 31st December 2009

1st July 2010 - The The Board of Vhi Healthcare has approved the Annual Report and Accounts for the 12 month period ended the 31st December 2009 and announced that Vhi Healthcare generated an overall deficit after tax of €41.7 million in 2009 notwithstanding a positive investment return.  Vhi Healthcare remains financially strong with liquid financial assets of €705 million and retained reserves of €306 million which makes its balance sheet significantly stronger and more liquid than those of its competitors.

In 2009, Vhi Healthcare spent over €1.3 billion in funding the healthcare needs of its customers. This was up 14% on the previous year with over 50% spent meeting the healthcare needs of its older customers. In 2009, Vhi’s average healthcare spend per customer was €900 which is twice the level of its market competitors due to the age profile and health status of its customers. Vhi Healthcare also confirmed that it finished the year with almost 120,000 fewer customers than it had at the beginning of the year.

Click here to read Vhi Healthcare's full press release in relation to this year's annual report.