0031 GMT - Jefferies sees wage negotiations at public hospitals as an important signal for Ramsay Health Care in its own talks. Enterprise bargaining agreements for nurses at public hospitals are due in three states--New South Wales, Queensland and South Australia--this year. The outcome will likely be reflected in the private hospital sector, impacting Ramsay, analyst David Stanton says. Ramsay needs to negotiate new enterprise bargaining agreements in all states except South Australia this year. First up is New South Wales, which accounts for some 24% of the company's EBIT. "Changes in labor costs are likely to lead to changes in Ramsay's group profitability, as we believe there are minimal offsets possible for employee cost increases," Jefferies says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 20, 2025 19:31 ET (00:31 GMT)
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