ICICI Securities: Healthcare Sector Update - Expect Healthy Growth Recovery In 2021
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ICICI Securities Report
We remain positive on healthcare space and expect strong growth recovery in non-Covid-19 business along with potential margin improvement from cost-control initiatives undertaken in the past few months.
Sector companies under our coverage witnessed average appreciation of 37% in stock prices over the last year largely driven by diagnostic companies.
Key notable points for CY21-
1. Recovery in occupancy level including medical tourists for hospitals,
2. likely improvement in volume growth for diagnostic companies with shift from unorganised market to organised players,
3. incremental business from Covid-19 patients and
4. upward reset of Ebitda margin with partial continuation of cost-control initiatives undertaken during the lockdown.
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