From HC thread on SHL:

A lot of surgery's have been postponed world wide due to covid with the waiting lists growing daily. In Europe and the US they don't want anybody without covid anywhere near a hospital unless life threatening. Once the vaccine has been widely distributed, end of 2021, it is going to take years to catch-up, even at a highly accelerated rate.

In Australia people were avoiding going to their GP because of covid. So there will be a hidden demand over and above the waiting lists and the waiting lists weren't short to begin with. SHL will need to grow to meet demand.

As to why the SP has been going backwards over the last week or so, no idea

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Covid testing is peaking in Europe and US will probably rise again. Should turn around on the graph soon.

Basically, SHL have been benefitting from a new revenue stream with COVID testing, and they should then be able to go back to their traditional revenue source (with backlogs) once COVID is no longer an issue.