+++++++++++++++++++++++++ In line with its strategic growth plans in the UK, Diagnostic services company MIA Group Limited ("MIA") today announced that Lodestone Patient Care Ltd, ("MIA Lodestone") its United Kingdom subsidiary, was successful in winning the tender to provide Magnetic Resonance Imaging services to the Stepping Hill Hospital for the Stockport NHS Trust, in the densely populated Manchester area.
This tender is a part of the general move in the UK that enables private sector Diagnostic Imaging and Pathology providers to participate in the public sector. MIA Lodestone is currently involved in other tenders and is well positioned to take advantage of future opportunities in a diagnostic services market, recently fuelled by a Government commitment of an additional GBP19 billion to the NHS, over 5 years.
The Stockport facility will service a local population of 350,000, with 22 million people living within a 2-hour range, and further enhances MIA Lodestone's geographical coverage. The company currently already operates 14 MRI scanners at NHS hospital sites across the UK.
The agreement with Stepping Hill, a large district general hospital, covers a 15-year exclusive service arrangement, with a 25-year property lease. The service will be operational from August 2003 following building works and equipment installation. Interest in the tender had been exceptionally strong, with a number of parties attracted by the hospital's key location and the tender's significance in the context of the NHS restructure.
Walter Kmet, CEO of MIA Lodestone, indicated that the tender win signalled that MIA Lodestone understood the specific needs of the UK health environment and were in a position to offer a high quality solution in a competitive manner. "MIA Lodestone's approach in the UK has been to develop an understanding of the sector and build on its reputation for excellence," Mr Kmet said.
"NHS hospitals want to have access to leading technology and quality patient care within a set budget. MIA can offer those qualities by drawing upon the experience of its team. The combination of leading technology, quality patient care and experience puts MIA Lodestone in a good position to play a significant role in improving access and service delivery to the general public, the key objective of the NHS restructure," Mr Kmet concluded.
Dr Peter Macintosh, CEO of MIA Group Limited stated, "The progress MIA has made in the UK in winning this NHS business demonstrates that the group's strategic decision to expand abroad was well researched and timely. The multitude of companies looking at the opportunities created by the NHS restructure is an indication of the potential in that market. The key to translating that potential into revenue growth is winning the right tenders. Stepping Hill is one of those tenders and we see it as a confirmation of our leadership position, both in terms of service quality and cost-efficient management."
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Chris Ericksen CHIEF CORPORATE AFFAIRS OFFICER (03) 9804 6124
