Ramsay Health Care (ASX: RHC) has announced the appointment of seasoned executive and boardroom leader Craig Drummond as a Non-Executive Director, effective 1 July 2025. The news marks a significant strategic move for the private healthcare giant as it seeks to accelerate its transformation efforts and enhance capital returns across its global portfolio.
Drummond brings with him more than three decades of high-level leadership experience across healthcare, finance, and governance. His extensive credentials are set to bolster Ramsay’s board with critical insights and governance acumen during a pivotal period for the company.
Investor’s Outlook
As of 2:04 pm AEST on 30 May, Ramsay Health Care (ASX: RHC) shares were trading at $37.92, reflecting a strong intraday gain of $1.75 or 4.84%. This positive movement comes on the back of the company’s announcement regarding Craig Drummond’s appointment to the board, which appears to have sparked investor interest. The share opened at $36.60 and reached a high of $38.06 during the day, showing solid momentum.
As of 2:04 pm AEST on 30 May, Ramsay Health Care (ASX: RHC) shares were trading at $37.92, reflecting a strong intraday gain of $1.75 or 4.84%. [Market Index]
Trading volume has also been notably strong, with 786,610 shares changing hands, exceeding the four-week average volume of 670,927. This uptick in volume resulted in a daily turnover of over $29.3 million, suggesting heightened investor confidence and increased institutional activity. The stock’s volume-weighted average price (VWAP) for the session stands at $37.345, indicating steady demand throughout the trading window. The previous close was $36.17, further highlighting today’s impressive move.
From a performance perspective, Ramsay has delivered a 6.28% gain over the past week, and a more substantial 12.56% return over the past month, showcasing renewed short-term investor confidence. Year-to-date, the stock has climbed 9.79%, a respectable recovery given broader market volatility. However, over the past 12 months, the stock remains down 19.10%, underperforming both its sector by 20.02% and the ASX 200 by 29.59%. These longer-term figures reflect the challenges Ramsay has faced but also present an opportunity for upside as strategic changes take effect.
With a market capitalisation of approximately $8.75 billion, Ramsay is currently ranked 67th out of 2,324 companies on the ASX and 9th within the healthcare sector, underlining its significance in the Australian healthcare landscape. The company has 230.8 million shares on issue, contributing to its liquidity and visibility in the market.
Although Ramsay has lagged in longer-term benchmarks, the appointment of Craig Drummond and recent gains suggest a turning point. Investors appear optimistic that strengthened governance and a renewed strategic focus will drive improved performance and capital returns. With a solid foundation, respected leadership, and operational reach across global markets, Ramsay Health Care could be well positioned for sustained recovery and future growth.
Strategic Leadership to Guide Future Growth
Currently, Drummond serves as Chair of Transurban Group and the Australian Foundation Investment Company Ltd (AFIC), as well as Non-Executive Chairman of AFIC’s subsidiary, Australian Investment Company Services Ltd. He also chairs The Ian Potter Foundation and The George Alexander Foundation, organisations recognised for their philanthropic support of education and social impact.
Craig Drummond’s involvement in these diverse sectors reflects his wide-ranging expertise and commitment to purpose-driven leadership. His previous roles include five years as CEO of Medibank Private Ltd (2016–2021), where he led one of Australia’s largest private health insurers through significant organisational change and growth.
Ramsay Health Care Chair David Thodey highlighted the strategic value Drummond will bring to the boardroom:
“Craig’s deep leadership experience across healthcare, financial services and governance, combined with his strong track record of strategic growth, will be invaluable as we continue to transform and strengthen Ramsay, and improve returns on capital across our portfolio. Craig’s customer focus and insight will help drive our next phase of growth and we’re excited to have him on board.”
Broad Experience in Healthcare and Finance
Before leading Medibank, Drummond held several key executive roles, including Group Executive Finance and Strategy at National Australia Bank (NAB) and CEO and Country Head of Bank of America Merrill Lynch (Australia). Earlier in his career, he also held senior roles at Goldman Sachs JBWere, giving him extensive exposure to both domestic and international financial markets.
Drummond’s governance portfolio also extends into academia and scientific research. He previously served as a Director of the Florey Institute of Neuroscience and Mental Health (2009–2017) and was a member of the Federal Government’s Financial Regulator Assessment Authority (2021–2023), bringing additional credibility in regulatory oversight and institutional reform.
Credentials and Qualifications
Drummond holds a Bachelor of Commerce from the University of Melbourne and has completed the Advanced Management Program at the Wharton School, University of Pennsylvania. He is a Senior Fellow of the Financial Services Institute of Australasia and a Fellow Chartered Accountant—credentials that underscore his financial and strategic acumen.
His educational background, paired with real-world executive experience, is expected to provide Ramsay with enhanced board-level decision-making capabilities, especially as the healthcare sector faces increasing regulatory, operational, and competitive pressures.
A New Chapter for Ramsay Health Care
Ramsay Health Care is currently navigating a period of strategic renewal. The appointment of Drummond reflects the company’s commitment to sharpening its governance capabilities and pursuing disciplined capital allocation to drive shareholder value.
This move comes amid a broader transformation effort, where Ramsay has been focusing on portfolio optimisation, digital health integration, and global operations refinement across its hospital and day surgery networks in Australia, Europe, and Asia.
Given Drummond’s proven leadership at Medibank, where he oversaw digital transformation, customer-focused delivery models, and operational efficiency, his arrival is seen as a natural fit with Ramsay’s ambitions.
“Craig’s customer focus and insight will help drive our next phase of growth,” added Thodey.
Share Market Reaction and Performance
Following the announcement, Ramsay Health Care shares surged, reflecting investor optimism around the appointment. As of 2:04 pm AEST on 30 May, RHC shares were trading at $37.92, up $1.75 (4.84%) for the day. This positions the stock significantly above its opening price of $36.60 and close to the session’s high of $38.06.
The strong intraday performance comes on the back of a positive one-month trend, with the share price rising 12.56% in May. Year-to-date, the stock is up 9.79%, although it remains 19.10% lower over the past 12 months—underperforming both its sector and the broader ASX 200 index.
The volume of 786,610 shares traded today surpasses the four-week average of 670,927, with turnover reaching $29.36 million, suggesting increased investor engagement in response to the board appointment.
