One of Trinidad’s largest private healthcare providers just went public, which means you can now own shares in this company.

Medcorp is a big name in healthcare in Trinidad and Tobago. The company, which started in 1993, runs four healthcare centres. There’s the St Clair Medical Centre, which is a 60-bed hospital that offers 24/7 care. 

There’s also the Goodhealth Medical Centre, the Brian Lara Cancer Treatment Centre and the Doctors Radiology Centre. 

So they have pretty rounded exposure across the healthcare industry.

Medcorp also has a 50% stake in Caribbean Heart Care-Medcorp, which is the only place in Trinidad and Tobago that does emergency and planned heart surgeries, even for kids.

The company recently decided to do an IPO. They offered 350,000 shares, valued at 48 TT dollars each. That’s a total of about 16 point 8 million TT dollars or 2.4 million USD, if the offer is fully subscribed.

The offer opened on May 27 and was scheduled to close on June 13. There’s no word yet, if it was fully subscribed.

According to the prospectus, the company plans to use the cash to fund its strategic growth initiatives, which include infrastructure enhancement and a new wing at Goodhealth Medical Centre.

They want to add three more storeys to the one they recently completed.

Plus they’re entering new markets in Trinidad and across the Caribbean.

Taking a look at their numbers – for the financial year ended December 31, 2024, Medcorp brought in 122 million dollars TT in revenue. After taxes, the company made 41 million in profit, which was actually about 28 percent less than the 57 million it reported in 2023.

Medcorp said that the falloff in profit reflected a non-recurring financial event in 2023 where major shareholders waived their dividend, to prep for the IPO.

The dividend payment from 2023 totaled almost 31 million TT dollars and that money was treated as income in the books.

For the financial year ending December 31, 2024, the company declared a total dividend of 30 million, which is 72 percent of its profit for that year.

According to the prospectus, the company plans to distribute 30 to 70 percent of it profits as dividends. 

The company is scheduled to list on the TTSE on July 7.

And that’s the bottom line.

Wanna learn how to invest in companies like Medcorp?

Go to investingforbeginnersja.com.  Let’s get this money!