The Public Investment Corporation (PIC), acting on behalf of the Unemployment Insurance Fund (UIF), is to acquire an effective 32% stake in private hospital group Clinix Health Group for R400m, after the deal was approved by the Competition Tribunal on Wednesday. The deal expands the PIC’s healthcare portfolio, which includes investments in JSE-listed private hospital groups Netcare, Mediclinic and Life Healthcare, and several unlisted private hospitals. It will provide Clinix with a cash injection to expand its footprint after it sustained a R200m loss in its failed Limpopo public-private partnership. The PIC’s unlisted hospital assets at March 31 included Bosthilu private hospital (48.8%), Kiaat private hospital (10% on behalf of the Government Employees Pension Fund) and Modderfontein private hospital (36% on behalf of the Compensation Fund), according to documents on its website. Clinix was founded in 1985 by CEO Khamane Matseke and remains a relatively small player in compariso...
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