Chair's report
Brett Gallagher
Chair, Board of Directors
Looking back on the past year The Bays has experienced significant change throughout the entire organisation. Important strategic and commercial initiatives have been led by the Board and progressed successfully by Management. I’m delighted by our people with their willingness and passion to embrace and drive change to ensure the long-term sustainability of The Bays.
The private healthcare sector continues to face headwinds with the cost-of-living crisis driven by inflationary pressures and higher interest rates. The Board together with Management continue to explore new and innovative ways to deliver and expand our services for the Mornington Peninsula community. In the 2023-24 financial year, The Bays delivered a solid financial performance and has positioned the group well to grow in the coming year.
This year our local community have witnessed the construction of the exciting first stage of our Cancer Care Centre. The first service to be offered, scheduled to commence in late 2024, is radiation therapy. This important cancer treatment is not currently offered on the Mornington Peninsula and will save patients the need to travel longer distances to access regular treatments. We look forward to making future announcements in 2025 in relation to Stage Two of the Centre.
The Bays announced during the year after careful strategic analysis the divestment of our aged care facility in Hastings. The increasing costs in the sector, along with the limited synergies it presents across the broader group, were key factors in the decision. Apollo Care acquired the 90-bed facility from The Bays in June. Apollo Care has the scale, expertise and investment capacity to expand the services. The Bays retains the dialysis service in Hastings, continuing to provide this important service for both private and public patients. The funds raised from the sale of aged care will be reinvested in our healthcare services. Initial funds will be invested into Stage Two of our Cancer Care Centre, along with new advanced medical equipment and upgrading of legacy technology.
We are renowned in the community for our nursing and midwifery services. This year we commenced an exciting new program with the help of Mornington Rotary Club, establishing a Nursing and Midwifery Education Fund. The fund is designed to provide our valuable nurses with an opportunity for ongoing professional development. The result ensures The Bays provides patients with the most up-to-date clinical care and support.
I would once again like to acknowledge and thank our people for the amazing job they do each day. Their dedication, energy and compassion focussed on the health and wellbeing of our patients sets us apart, and continues to preserve what we and our patients call ‘The Bays Difference’.
I would also like to acknowledge and thank our generous community of donors, for without you we could not continue providing the level of healthcare we do to the Mornington Peninsula. As a community owned not-for-profit organisation, your ongoing valuable support enables us to invest in essential medical equipment, so that our doctors and staff can maintain the highest level of medical care to our patients. Research and technology drive new and more advanced medical equipment every year, which ultimately delivers better outcomes for patients. To all of our generous donors, we say thank you for your ongoing support and we look forward to maintaining our association with you all in 2025.
Finally, on behalf of the board I would like to extend our heartfelt thanks to all of those who have contributed to our success. To Jade, her executive team, our staff, doctors, volunteers, donors and our supportive community we thank you and we look forward to another exciting year ahead with the opening of our Cancer Care Centre.
