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AfroCentric targets acquisition of health companies
Investment group AfroCentric is eyeing more acquisitions of health companies to enhance its offerings. During the year to June, Afrocentric concluded some small acquisitions, such as Wellness Odyssey, a company that provides health awareness to medical schemes and the corporate market, and Scriptpharm Risk Management, which manages chronic script claims. These acquisitions are expected to contribute R250m in the 2018 financial year. "AfroCentric will be considering other such specialised health-related enterprises to expand its platform of services into the broader markets," the company said. The group also sees an opportunity for a collaboration with Sanlam, which recently acquired a 28.7% shareholding in the company. "Now the big challenge and opportunity for us is how do we integrate ourselves to make sure we deliver the best-quality service for our clients," Group CEO Antoine van Buuren said. AfroCentric reported a 49.9% increase in operating profits to R564.1m The company said ...
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