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Ramsay Health Care (ASX:RHC) released its FY22 results today and has since entered a trading halt. The company didn’t include an update on the proposed $88 per share takeover offer received from a consortium of financial investors led by KKR, however has since entered the trading halt to provide an update on the takeover proposal.

On the results front, Ramsay Health Care said it was hit heavily by COVID-19 outbreaks in the community and lockdowns, with an estimated impact of $264 million from the pandemic-related events. EBITDA fell 10.9% due to COVID-costs and one-off items, the company’s final dividend was more than halved to 48.5 cents per share and the total dividends for the year are down 36% on the prior year, profit before tax tumbled 27.4% but revenue and other income rose 3.1%. The financial results across the board fell short of analysts’ expectations.

On the business front, Ramsay made two key acquisitions during FY22 including the expansion into mental health services through acquiring UK-based Elysium Healthcare, and the acquisition of Swedish specialty health care business, GHP Specialty Healthcare.

Looking at guidance for FY23, no quantitative guidance was issued by the healthcare provider, with the company simply saying it expects ‘a gradual recovery through FY23 and more normalised conditions from FY24 onwards’.

Bell Potter analysts’ currently hold a neutral rating on Ramsay Health Care with expectations for the market to focus on the potential takeover bid and also the impact the ramp-up in activity will have against rising operating costs on the company’s margins.