Imtech announced this morning they recently received new orders in the Dutch and Belgian care & cure market, to a value of over € 55m. Imtech also observes an increase in the added value of technological solutions in the care & cure market and a growth in the number of orders.
These contracts wins include Imtech’s technology partnership for the multidisciplinary technological upgrading of 16 operating theatres at the AMC (Academic Medical Centre) in Amsterdam. Imtech also provides the full range of technical solutions in an expansion project for the CHDR (Centre for Human Drug Research) in Leiden. Another order is the setting up of high-tech cleanroom facilities for medical research in a hospital in Leiden. For NKI (Dutch Cancer Institute) in Amsterdam and Izore (Center for Infectious Diseases Friesland) in Leeuwarden, Imtech is setting up various high-tech research laboratories. Other orders include the technological renovation of the obstetric and maternity ward at Stichting St. Elisabeth Hospital in Tilburg and of various wards at the Emma Children's Hospital in Amsterdam, as well as the technical set-up of a dialysis centre in the Haga Hospital in The Hague and a new ward at the Sophia Children's Hospital in Rotterdam.
In Belgium, Imtech's care & cure activities primarily focus on high-tech air and climate control and special sanitation solutions. For example, Imtech handles all air and climate control solutions in the expansion and renovation of University Hospital Leuven, as well as the technological infrastructure in various laboratories and the high-tech cooling of the data center in this hospital. In addition, Imtech is involved in the expansion and new build mechanical solutions for the St. Elisabeth Hospital in Herentals and St. Trudo Hospital in Sint-Truiden, as well as technology solutions in various residential care centers.
Conclusion:
This contracts once again shows that Imtech is well positioned in this segment as the care sector faces the challenge of operating increasingly efficiently and economically to meet a growing demand for care as a result of population ageing. The care & cure market increasingly requires specific technology that satisfies the strictest hygiene and safety standards. One of the methods by which to achieve more efficient and economical operations in care & cure market is to increase energy efficiency by using groundwater heating during the winter and cooling during the summer is possible. Energy consumption and carbon emissions are greatly reduced with this technology.
No impact on our estimates but positive for sentiment.
BUY rating with € 32 price target reiterated.