LENMED AIR 2019.pdf

11 OUR VISION AND VALUES IN ACTION OUR BRAND PROMISE A company’s culture should be a strategic asset. Our brand promise is ‘Lenmed heals’. We weigh up our core products and services of medical facilities, medical expertise and medical equipment against our brand benefits of healing, providing comfort, giving health and saving lives. We believe that while competitors speak of expertise and facilities, this should be a standard expectation and we position our organisation as customer-centric focused on the benefit of healing our patients. The Lenmed brand language speaks of being accessible, credible, warm, nurturing, fresh, confident, helpful and strong, with a value proposition to get better in the best possible way and embrace every day. OUR CORPORATE CULTURE The Lenmed Board has insight into how executive, mid-level and lower-level management demonstrates and communicates Lenmed values and embed this culture throughout our organisation. Lenmed is working to embed a corporate culture that is: D Y N A M I C I N N O V A T I V E T R A N S P A R E N T E T H I C A L Lenmed usually targets underserved communities rather than affluent sectors. We must therefore ensure that our services are affordable to those populations. Our ongoing review of internal efficiencies is the most direct means of securing affordability. AFFORDABILITY As Lenmed acquires or builds more hospitals, while introducing additional facilities within these footprints, we need to manage these efficiently and cost-effectively. At Group level, we have, along with other initiatives, recruited experienced professionals to manage shared services for human resources, business development, information technology (IT), marketing and procurement. Implementation of the SAP Enterprise Resource Planning (ERP) system throughout Lenmed is nearly complete. Full integration of SAP will ensure that Lenmed can continually optimise our operations and optimise strategic value from incoming data. EFFICIENCY Private healthcare in South Africa is highly competitive, which makes quality of service a key differentiator between healthcare providers. As quality is a core Lenmed value, we continually review our internal systems to recalibrate quality standards. QUALITY Given that private healthcare services are lacking across sub-Saharan Africa, Lenmed will continue growing through acquisitions, hospital management contracts and building or upgrading hospitals. Although investment opportunities appear constantly, current economic circumstances dictate that we approach acquisitions conservatively — greenfield developments in particular. Nevertheless, Lenmed will continue seeking opportunities offering exceptional value within our current risk and capital parameters. Management contracts Taking on contracts to manage hospitals rather than acquiring these outright is a relatively low risk option for expanding the Group. Lenmed’s expertise in doing so is well-proven through our co-ownership and management of Bokamoso Private Hospital in Gaborone, Botswana, and Kathu Private Hospital in the Northern Cape. These contracts may lead to a buyout of the other shareholders, as with Maputo Private Hospital during February 2017. Growth LENMED ANNUAL INTEGRATED REPORT 2019