Craig McNally

Craig McNally serves as Managing Director and CEO of Ramsay Health Care, one of the world's largest private hospital operators with over 460 facilities across Australia, the United Kingdom, France, and the Nordic countries. Founded in 1964 by Paul Ramsay in Sydney, the company has grown into a global healthcare platform that works in partnership with public health systems. In Australia, Ramsay is the largest private hospital operator, running over 70 hospitals that provide surgical, medical, rehabilitation, and psychiatric services. The Australian private hospital model operates alongside Medicare — patients with private health insurance can choose private hospitals for shorter waiting times and choice of surgeon. In France, Ramsay Santé is one of the largest private healthcare groups, operating hospitals, clinics, and mental health facilities. The company faces several structural dynamics: aging populations drive increasing demand for hospital services, government health budgets constrain reimbursement rates, private health insurance participation rates fluctuate with affordability, and surgical procedure backlogs from the pandemic create both catch-up demand and capacity challenges. Key stock drivers include surgical volume growth, government reimbursement rates, private health insurance membership trends, brownfield expansion and new hospital development, labor costs (nurses, surgeons), and the competitive dynamics in each market.