HSE staffing agency in rude health after revenues rise

Global Medics, one of only two healthcare staffing agencies that have a contract to supply locum doctors to the Health Service Executive (HSE), reported a 50 per cent rise in revenues in the year ending March 2015.

The recruitment company, formerly known as Medacs Global Ireland, recorded turnover of €62.1 million as against €41.6 million in 2014. This comes after revenues more than doubled from €19.7 million in the year prior to this.

According to recently-filed accounts, the firm which won a contract in 2011 to become one of only two providers of locums in 61 HSE-run hospitals across Ireland, reported pretax profits of €3.47 million, as against €3.28 million in 2014.

Cost of sales jumped from €35.3 million to €53.9 million over the year while administrative expenses increased from €2.84 million to €4.47 million.

The directors recommended and paid a dividend of €29,704 a share, up from €13,485 a year earlier.

Global Medics changed its name from Medacs Global Ireland in January, six months after its parent, Global Group UK was acquired by Impellam in a £37 million deal.

The HSE is Ireland’s largest employer with more than 67,000 direct employees.