Mediclinic pays R1bn for controlling stake in Swiss consolidation
Mediclinic is to combine its Geneva-based Clinique La Colline with privately held Clinique des Grangettes as it moves to grow its Swiss footprint. The private hospital group, which is listed on the London Stock Exchange, with secondary listings on the JSE and Namibia’s NSX, will pay R1.063bn to retain a 60% controlling stake in the merged entity, it announced on Tuesday. Mediclinic is one of SA’s three biggest private hospital groups, with operations in Southern Africa, Switzerland and the Middle East. It also holds a 29.9% stake in UK hospital group Spire Healthcare. Vestact director Paul Theron said the Swiss private health-care market remained attractive, despite the regulated environment. There was no negative sentiment towards private health-care in Switzerland, and it was a superb market for Mediclinic to be in, because it had a wealthy and ageing population, he said. “The bigger the better,” Theron said. Fairtree Capital portfolio manager Jean-Pierre Verster said the transact...
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