The Ramsay Health Care Ltd (ASX: RHC) share price is climbing higher into the green today.
This comes as the private hospital operator provider made an announcement to investors on the ASX.
At the time of writing, Ramsay shares are swapping hands at $78.31, up 1.49%.
In comparison, the S&P/ASX 200 Index (ASX: XJO) is giving back all its gains achieved during early morning trade. The benchmark ASX 200 is currently trading at 7,086.9 points, up just 0.17%.
What did Ramsay announce?
In its statement, Ramsay confirmed the details of funding guarantee arrangements for the period between 1 January and 30 June 2022.
Announced by the French Government on 14 May, the company said the structure of the decree was similar to prior periods. However, mental health has been excluded in the latest scheme.
While the details regarding the arrangement have not been disclosed, the previous corresponding period’s decree provided a guarantee of revenue equal to the average monthly revenue earned from the government.
Pulled from the 2020 calendar year, the revenue was indexed and multiplied by the six months covered by the decree.
About the Ramsay share price
After trading fairly flat for most of 2022, the Ramsay share price suddenly rocketed to a 52-week high of $84.58 in April.
The 25% gain came after the company received a $14.8 billion takeover offer from a consortium of investors led by KKR.
The Ramsay share price is up around 22% over the past 12 months and is trading 9% higher year to date.
Based on today’s price, Ramsay commands a market capitalisation of roughly $17.93 billion and has 228.88 million shares on hand.