Private hospital and pathology laboratory operator Healthscope has reported a decline in net profit of almost 40 per cent for the 2017 financial year, mainly due to a write-down from the sale of its 43-strong medical centre portfolio, but the company says it will continue to invest in infrastructure and technology.

The ASX-listed multinational's new CEO, former Telstra executive Gordon Ballantyne, highlighted the New Zealand pathology division as a bright spot with increased investment in technology leading to efficiency gains, but said the hospital division was suffering from soft market conditions.