A drop in patient numbers has seen Wakefield Health issue a half-year profit warning.
The company says tax earnings for the six months ended 30 September 2009 could be 30% to 40% lower than the first half of the previous financial year.
The company says the warning is an update of cautionary statements made in full-year results issued last March.
At the time, the company warned patient numbers could decline.
Chief executive Andrew Blair says that as well as a slump in DHB contracts, has slowed the number of operations.
Mr Blair says Wakefield Health retains a strong balance sheet and the company is still open to acquiring new assets.
Wakefield Health has three private hospitals housing 13 operating theatres.