When Akdital Holding responds to the Le360 through the press

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We wrote this directly, the transparency claimed by the group “Akdital” must be put into perspective. The founder, as well as the communications department of this holding, did not consider it appropriate to answer the questions he asked The360, in the framework of the preparation of the article “Accital Holding: care and… risky connections with finances”. However, the publication of our investigation obviously raised a new fever among the leaders of the group.

This time they did not dare to make a statement of indignation, as they did because MAP following the “slander campaign against Akdital Holding” on social networks and what prompted us to learn more about this group. They did not even exercise their legal right to respond to our article by sending us their counterargument directly. Their communications consultants (probably gifted) suggested that they respond through the press by choosing a body with a sulfur reputation.

White paper and black practices

So through and through Table Ali Amara, that the group led by Rochdi Talib is trying to convince that “no, the Akdital model does not support risky financial connections.” According to this publication, the group’s medical facilities are immune to black practices or safeguards, as Akdital “recently published a” white paper “explaining the modernization efforts (…) to set up a financial management tracking system.”

But this famous “white paper” is really just a rough 62-page advertising brochure – another marketing expense that should pay off – where the group boasts, among other things, its adjustable beds, treatment carts or accommodation service.

In this “Accital method” the terms “payment” or “payment” are never mentioned, as if the help in this group of clinics is free. Moreover, one of the rare cases of “billing” found in this health bible by Dr. Talib confirms the discovery of “widespread gangrene in the health sector,” as we wrote in our previous article. The group has little hope of correcting this: “Generalization of health insurance actually brings transparency to the chain and clears the practice sector that has tarnished its image for decades over money, billing and the cost of health care,” reads this book.

Akdital plays on words, claiming that “the patient never has any contact with the clinic’s back office or administrative staff during the reception.” This is certainly true, but patients’ relatives and companions know that it is in their best interest to have checkbooks. Accounting clinics of Accital – as in all private health care facilities – are littered with piles of guarantee checks, which in hospitals are modestly called “checks in the process of regulation”, ie before acceptance by the insurance company. This check is collected weeks later, ie not before the clinic receives a transfer from insurers, and not without taking into account the difference between coverage and other co-payments to patients, often in pharmacological terms incomprehensible to ordinary mortals. .

This is a real result of treatment in all private clinics. And once again: “Clinics” Accital “is no more exemplary than others,” as confirmed to us by a specialist interviewed for the purposes of our article. At least in its brochure, the group does not clearly explain how it allegedly banned this illegal practice, as it wants to hear. Table.

Who put 60 MDH?

This publication also seeks to rewrite the genesis of Akdital in its own way. She claims that Le360 is mistaken in writing that at the time the holding company was founded in 2014, there was indeed an association between Rochdi Talib and his father-in-law Hassan Akdim in Talib & Akdim, two years before Akdital was founded in 2016. (Akdim & Talib) with shareholders this time his wife and son-in-law. That same year, the latter returned the patriarch’s shares in the initial company (Taliac), which they will keep until January 2020, when the entire Propco company was transferred to Akdital Holding. Moreover, before that date, it was Talyak who was a shareholder in what became his parent company. This participation rotation took place just a few weeks before Mediterrania Capital Partners entered the funding round.

Because if the agreement with this investment fund actually dates back to November 2019, the capital increase took place only on March 24, 2020. This led to an increase in the authorized capital by 90 million dirhams (from 10 to 100 MDH), but also to an increase in the issue premium by 217 MDH (from 30 to 247 MDH), ie a total of about 310 million dirhams. But we must believe that since then this capital increase has not been fully paid for by Mediterrania Capital alone Table says that the entrance ticket to this fund was only 250 million dirhams. Who then paid the difference of 60 million dirhams? The newspaper, which apparently had access to the details of this financial arrangement, does not tell us.

FP Akdital

© Copyright: DR

Defendingly defending Akdital, Ali Amara’s newspaper, which dares to explain that “our accounting arguments are false in fact,” nevertheless plays on numbers, keeping the confusion between Akdital’s consolidated accounts and the company’s corporate accounts. These consolidated accounts, including the 2021 tax package (all just submitted and not yet available to the public), Table is the only one who has access to it. We are also grateful to him for sharing some of these new figures, which only comfort our reservations about the economic model of this group of clinics, which seeks to make public.

62 years to make it profitable?

Example, Table informs us that Akdital Holding’s net profit in 2021 was 20.6 million dirhams. Therefore, his brilliant financial analysts could ask themselves a few basic questions to see (as we do) the dangers of this model. At this rate of return, how many years will it take to make a company worth at least 1.25 billion dirhams? How quickly should profitability be increased to reduce this 62-year period? Is it unlikely that financial investors will push for solutions that will make health a business that can be made profitable at any cost?

It was in this questioning spirit that our initial article was created, which at least had advantages Table an advertising order he executed using the content of this brand. Another topic for this newspaper, which specializes in price content.

Obviously, The360 may respond to other criticisms Table who manifests himself as giving lessons, pompously declaring that he is engaged in “rehabilitation”. Perhaps we will do it another time, deepening the financial analysis of this group, because “Accital Method” costs much more series than “Doctor Who”.