Netcare share gets shot in the arm after approval to buy Lakeview Hospital
Netcare’s share price rose 1.3% to R29.49 after the Competition Tribunal overturned the Competition Commission's prohibition of its acquisition of Benoni’s Lakeview Hospital. The tribunal said on Wednesday it had approved the deal after Netcare agreed to various conditions including Lakeview Hospital charging 5% less than what Netcare terms its "57/58 tariff" to medical schemes. Lakeview, a private hospital that was opened in 2010, has 94 beds. "It is particularly well-known for its state-of-the-art, 20-bed mother-and-child unit, and six-bed neonatal intensive-care unit," Netcare hospital division MD Jacques du Plessis said in a media release. "Advanced orthopaedic surgery is another focus area and the hospital is looking to establish an orthopaedic and spinal centre of excellence," Du Plessis said. "Other facilities at Lakeview Hospital include an eight-bed adult intensive-care unit, medical and surgical wards, a paediatric unit as well as a day surgical facility.
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