Turnover of CHF 127 million in 2008 up by 9.4%. 
All entities improve by between 5% and 22% 
 
In 2008, GSMN generated a consolidated turnover of CHF 127.6 million, an 
increase of 9.4% compared with 2007 (CHF 117m). All entities show an 
improvement, ranging from 5.4% for Clinique de Genolier to 22.2% for 
Clinique de Montchoisi in Lausanne. The Group, comprising private hospitals 
in French-speaking Switzerland, ceded control of its Publishing Division  
AGEFI at the start of February and thus completed its refocusing on 
healthcare activities, at the moment less affected by the current crisis. 
The start of 2009 confirms the positive development achieved by the Group 
since it was founded. 
 
GSMN, Genolier Swiss Medical Network SA, a company listed on the Swiss 
stock exchange SIX (GSMN:SW) today published its turnover to 31 December 
2008. The figure comes to CHF 127.6 million, a year-on-year increase of 
9.4% (CHF 117m). Clinique de Genolier, the flagship of the Group, generated 
turnover of close to CHF 70 million, an increase of 5.4% (CHF 66.3m). 
Clinique de Montchoisi and Clinique Valmont-Genolier increased their 
turnover by 22.2% and 8%, respectively, while Clinique G¨¦n¨¦rale in 
Fribourg, responsible for the Group¡¯s main loss in 2006 and 2007, increased 
its turnover by 21% to close to CHF 25 million (CHF 20.5 m). 
 
In 2008, the Genolier Swiss Medical Network Group expanded its recruitment 
network abroad, allowing it to minimise the possible impact of the current 
crisis on this patient category. More than 15 new physicians joined GSMN in 
2008, consolidating the activities of the group in its key areas of 
Oncology, Orthopaedics, Ophthalmology, Cardiology and General Surgery. The 
hospitals of GSMN will pursue their policy of medical innovation in 2009 
and new activities will be implemented in the various units to supplement 
the current range of services. This development of activities will lead to 
the creation of new jobs in 2009, in particular at Genolier. 
 
Laurent Bertrand, Director of Clinique La Ligni¨¨re in Gland for almost 10 
years, will join the Clinique de Genolier as Managing Director on the 1th 
of March. His task will be to continue the development of the site in order 
to consolidate its integration into the regional health network. In 2008, 
the hospital replaced its radiotherapy equipment and in so doing 
consolidated its position as a centre for oncology. 2009 will see the 
opening of Les Hauts de Genolier, a secured and medical residence for the 
elderly. This residence will accommodate about a hundred residents in 63 
upmarket apartments which have been designed to propose the same comfort 
and privacy as an own home while offering the security of a hospital. 
 
Clinique de Montchoisi, acquired by the group in 2003, has developed an 
important ophthalmology department treating more than 3,000 patients every 
year. Surgical procedures are mainly associated with ocular pathologies, in 
particular glaucoma, cataracts and macular degeneration. The hospital has 
twenty or so renowned FMH specialists. This hospital, which recorded the 
Group¡¯s greatest level of growth in 2008, has been a leading member of the 
network of private hospitals in Lausanne since 1934, also offering 
high-quality service to regional patients in the fields of Orthopaedics, 
Gynaecology, General and Aesthetic surgery. 
 
Clinique G¨¦n¨¦rale in Fribourg and Clinique Valmont-Genolier in Glion sur 
Montreux have successfully realised their turnaround, with a significant 
increase in both activity and turnover in 2007 and 2008. The private and 
semi-private client groups have seen particular development thanks to 
substantial investments in accommodation and hospitality. Each of them now 
offers private and semi-private rooms with first-class comfort and a 
gourmet restaurant also open to the public. 
 
The majority of the capital in the Publishing Division having been disposed 
of, GSMN is anticipating for 2009 a turnover in excess of CHF 145 million 
in the area of healthcare alone, with the acquisition Centre 
m¨¦dico-chirurgical des Eaux-Vives (CMEV) in Geneva. Reorganisation measures 
allowing a reduction of overhead costs of more than CHF 2 million were 
implemented in 2008 and the effects will be seen in 2009. The new 
decentralised administrative structure, especially in the area of financial 
management of the group¡¯s entities, will allow the integration of new 
entities with no increase in the central workforce. The movement towards 
consolidation of the industry is still in its embryonic stage in 
Switzerland and Europe and the current period should offer GSMN, which has 
little debt, interesting acquisition and partnership opportunities. GSMN 
will publish its 2008 results and Annual Report on 28 April 2009. 
 
GSMN (Genolier Swiss Medical Network) SA is the leading private hospital 
network in the French speaking region of Switzerland (Romandie). Its growth 
strategy is focused on building a national network by acquiring clinics and 
restructuring their operations. GSMN¡¯s main goal is on providing premium 
hospital care to Swiss and foreign patients. GSMN distinguishes itself over 
other healthcare providers on the basis of its quality of services, high 
brand value, congenial working environment and an experienced and 
entrepreneurial management team. Presently, GSMN has 4 fully owned private 
hospitals in its portfolio with 277 operating beds and more than 200 
additional licensed beds for organic growth. Additionally, GSMN has a 
management contract with Centre m¨¦dico-chirurgical des Eaux-Vives (CMEV), 
an out-patient consult and oncology centre in Geneva. The Group is listed 
on the Main Segment of the SIX Swiss Exchange (GSMN:SW). 
 
 
 
For more information, please contact:   
GSMN Press Service 
Media Impact  
G¨¦rard Sermier 
Rue de Lausanne 42 © 1201 Gen¨¨ve 
Tel +41 (0)22 732 59 97 © Fax +41 (0)22 738 62 01 
info@mediaimpact.ch PRE>