I am extremely proud to present our first Annual Integrated Report, which describes our accomplishments and performance on financial, environmental, social and governance topics during 2021.
I would like to thank our entire team for their hard work and commitment over a year of enormous challenges. I also share the grief of those who have lost their loved ones due to the pandemic. Hospitales MAC and its future depend on you, and together we all will work to support our team members, our families, our doctors and our patients who have faced unimaginable loss and trials during these past years.
The last two years represented a scenario hardly imaginable: an unknown highly contagious virus, affected global economy, numerous cities in lockdown, border closures, hospitals unable to provide care for the enormous number of COVID-19 patients. As was the case across the globe, the health industry in Mexico suffered a strong impact due to lack of infrastructure. Hospitales MAC responded quickly and decisively to this deep crisis by acquiring equipment, materials and medicines to prepare and attend all those who needed medical attention. We are extremely proud we were able to fulfill our mission to provide care for all patients who came to us during these trying times, either through our at-home program “MAC en casa” or in our hospitals no patient was left out.
Throughout 2021, we continued with a strict adherence to the established protocols to contain the transmission of the virus and to be able to care for patients in the safest possible environment. We implemented 17 new protocols for patient care during the different stages of the contagion curves, opened two laboratories for COVID-19 detection and carried out COVID-19 drills in all facilities, as part of employee training.
Even in the face of the health crisis and economic shocks caused by the pandemic, we proved to be resilient, emerging as a leading health provider due to our unwavering commitment to patients’ safety and care.
Hospitales MAC aims to consolidate itself as one of the strongest groups in the country through organic growth in hospital construction, inorganic growth with acquisitions and with the increase of services in existing hospitals, always with the unwavering commitment to provide top-quality healthcare.
We continue to bet on an accelerated expansion, to reach more cities with insufficient medical coverage, in the middle-income segment, with better quality medical services. The Company’s expansion is being supported by the MediMAC model, which is a network of smaller medical units designed to have coverage in more locations in the national territory and be closer to patients who require it.
To achieve this goal, we issued a second public debt of $1,500 million Mexican pesos in July 2021. This issue resulted in the reduction of the total debt rate of the Company, as well as the diversification of public and private debt, therefore boosting the brand and Hospitales MAC’s exposure. The resources obtained were used for strategic investment and growth.
Through the investment for biomedical equipment and hospital infrastructure, we laid the foundations for the estimated opening of 3 hospitals and 8 MediMACs in 2022.
Furthermore, with $3,143 million pesos in revenues, we achieved a 74% increase against 2020. This increase is due to the improved performance of our hospital units, based on the increasing trust that patients and doctors have in Hospitales MAC, as well as the acquisition of the Periférico Sur, Tampico and MediMAC Tlalnepantla, as well as the completion and opening of Aguascalientes Norte.
We will continue with our strategic plans to increase our revenues, managing to intensify the positive effects of operating leverage to generate sustained growth in our profit margins and value generation for shareholders.
Being a socially responsible company has been part of our DNA since our foundation; we strive to provide quality health care for our patients through strong alliances with our doctors and to create added value for all our stakeholders. In 2013, we developed our Corporate Governance and during 2021, we continued to commit to our ESG values by opening the ESG Department. On January 2022 we hired our Chief ESG Officer who will manage these topics, as well as oversee and develop initiatives to comply with legal regulations, increase transparency, decrease our environmental footprint and enhance the positive impact we have on our communities, our doctors and our employees.
In terms of our ESG pathway, we defined three strategic principles that will permeate all our processes in the coming years: 1) develop new hospitals and improve our existing portfolio to ensure maximum efficiency and resiliency; 2) promote an inclusive workspace with equal opportunities to work and grow; and 3) ensure ethical and transparent practices in all our operations. We will work diligently to be faithful to these principles and our philosophy.
Although we have survived a global crisis, we are mindful that enormous challenges await us in the coming years. We are heartened by the fact that in the face of the worst crisis in modern history, our DNA has proven the strength and resilience of our world-class company that responds effectively to global challenges.
On behalf of the Board of Directors and myself, I want to sincerely thank all Hospitales MAC employees, doctors, patients, investors and financial institutions, authorities, members of the industry, suppliers and communities in which we operate for their continued support and for being part of this success story that is only beginning.
Miguel Khoury Simán
CEO and Chairman
of the Board of Directors