Insight+Ascot Radiology is a leading specialist radiology business in Auckland. Abano owns 73% of Insight+Ascot Radiology, with the remaining 27% held by radiologist partners. We expect to add several new radiologist partners in FY14.
Radiology is an important investment area for us, with $17 million spent in the past five years on establishing new clinics and introducing leading edge technologies such as PET CT scanning and latest generation MRI and CT equipment. In FY13, we opened another new clinic in the Millennium Institute on Auckland’s North Shore. This is the third clinic we have opened in the past five years and, while it is currently in a start up phase, we expect to see demand grow as we market our service offering.
Imaging is now an intrinsic part of any medical examination as improved diagnosis often leads to better and more efficient patient care and outcomes. Investing in the best possible, world class equipment and clinics does not come cheap, however the high initial cost is more than offset by the mid to long term benefits and revenue expected from these services. As a result of these investments, our radiology business is recognised as a leader in providing speciality radiology services in the Auckland area. Local DHBs are also utilising our services to cater for excess public demand.
In November 2012, we merged our two radiology businesses into one entity.