Nurses, midwives and shareholders will have their say tomorrow on the streets of Sydney and in the company’s AGM.
Ramsay Health Care, the country’s largest private hospital operator, is under pressure on two fronts this week, from both its staff and its investors.
Tomorrow, Ramsay nurses and midwives in the company’s 17 NSW hospitals will walk off the job for 24 hours and rally in Sydney’s Elizabeth Street as the battle for improved wages and conditions continues.
At the same time, Ramsay’s AGM will be in progress, where some stakeholders will pile the pressure on for the company to sell off its offshore assets in a bid to help the local business, which consists of 76 facilities.
According to the Australian Financial Review this morning, five institutional investors are pushing for the sale of Ramsay’s controlling stake in Ramsay Sante, which has facilities in France and Scandinavia.
Those rumblings have been going on since September of 2023, when HSD reported that investors were keen to spin off the French hospital operator.
Ramsay first purchased hospitals in France in 2010 and owns 52.8% of Ramsay Sante, the second largest private care provider in Europe with 443 hospitals, clinics, primary care and imaging centres.
Ramsay reported $16.8 billion in revenue and $270.6 million in profit after tax in the year to 30 June 2024, a drop in profit of 2.7%. The share price is down by 27% this year alone, a decade low.
Meanwhile, the nurses and midwives said it was time Ramsay shareholders stood up for nurses and midwives who were critical to the operations of the multinational company.
“After 20 months of negotiations and 18 bargaining meetings, we have not reached an agreement with Ramsay, with two pay offers being voted down by the majority of staff,” said the general secretary of the NSW Nurses and Midwives Association, Shaye Candish.
“Members began protected industrial action in July and have held more than 50 strikes across the state, demanding fair pay and improvements to conditions, including safe staffing reforms.
“Last financial year, Ramsay turned over almost $900 million in profit. We know they can afford to pay our hardworking nurses and midwives what they’re worth, by funding a pay rise that addresses inflation and cost of living pressures.
“Ramsay cannot continue to put profits before staff and patients any longer. If it does, it risks losing more nurses and midwives to other areas of the industry or to leave altogether.”
Ms Candish said it was unacceptable Ramsay nurses and midwives in NSW were paid up to 14% less than their counterparts in Queensland for doing the same work.
“Our members are demanding a 20% pay increase over three years and mandated nurse/midwife to patient ratios across all wards and units in Ramsay hospitals,” said Ms Candish.
“We’re urging Ramsay to come to the table and resolve this long-running pay dispute before Christmas, for the sake of all shareholders.
“We’re calling on all Ramsay shareholders to stand up for nurses and midwives and back a fair and reasonable pay increase, as well as mandated staffing ratios, so Ramsay patients across NSW receive the quality care they deserve.”