Quote:I thought some of you might be quite interested in this little own initiative investigation into NHS Patientline which Ofcom has just announced.
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http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=514644<<
LONDON (SHARECAST) - Shares in Patientline slumped by a third as it revealed regulator Ofcom plans to investigate its charging structure while revenues had fallen year-on-year.
Patientline provides hospital patients with bedside phones and televisions and said Ofcom, which will announce the investigation tomorrow, wanted to look into look into the prices charged for incoming calls by all the Patient Power licensees.
The company added that it was confident about the outcome of the investigation but would not add new terminals until its position had been clarified.
Patientline added that that while business had picked up in April and May, revenues per terminal had since slowed and were now down 5% year-on-year.
"If revenue per terminal were to decline further during the balance of the year, the adverse affect on EBITDA and the net loss could be up to £4m compared with market expectations for the year to March 2006," the statement said.