Progress of our strategic roadmap
Despite the challenges of COVID-19, we were able to continue the momentum of our strategic plan and break new ground, with improvements in science, patient care and services.
Increased marketing activities are driving growth in the patient pipeline. Our patient engagement activities during the shutdown period have driven a strong recovery of pent-up demand.
We were excited to launch a new ‘Brave Together’ advertising campaign to illustrate our progressive, empathetic and empowering approach to patient care.
We are investing in expanding our clinic and consulting network, while enhancing our value proposition to patients and specialists.
Our new Sydney CBD flagship clinic is on track to open during the second quarter of this financial year and will represent best-practice patient experience. This clinic is a key initiative to attract new fertility specialists into the Monash IVF family.
The strategic priority of clinic infrastructure has continued to be a focus in FY20 with a particular focus on transformation of our Melbourne footprint, a new full-service clinic in Penrith, which commenced in October and a refurbishment completed in our Dulwich, South Australia clinic.
In a positive milestone for our international expansion, we acquired a majority stake of a boutique IVF operation in Johor Bahru, Malaysia, increasing our footprint in the South East Asian region.
Domestically, we celebrated the acquisition of Fertility Solutions and taking a majority share in the Tasmania clinic. Both our international and local acquisitions and growth are supported by our unrelenting focus on building scientific capability to give our patients the best possible outcomes.
We have demonstrated improvement in our success rates in FY20. In addition, we continue to partner with innovative organisations to advance new technologies, such as a safer and softer method of ICSI that is demonstrating improved fertility rates and therefore creating more embryos for our patients.
Our strategic roadmap, Vision 2022, will continue to guide our priorities, actions and decisions to achieve success and deliver profitable growth in the oncoming years.
Our capital metrics following the equity raise allowed us to navigate the uncertainty of COVID-19 and will allow us to maintain momentum on strategic growth initiatives to achieve our Vision 2022.
As a business, we will continue to be agile to provide a safe environment for our people, doctors and patients. Thank you to our people for supporting our community in this uniquely challenging and uncertain environment. Together we will continue to embrace new ways of working to be the leaders in reproductive care.
Chief Executive Officer & Managing Director