Netcare warns 21-day lockdown might not be long enough
Private hospital group withdraws its full-year guidance amid uncertainty over Covid-19 outbreak
Private hospital group Netcare says the three-week lockdown initiated by President Cyril Ramaphosa might not be long enough to achieve the government’s aim of slowing the spread of Covid-19 to prevent the health system from being overwhelmed.
JSE-listed Netcare, which is one of SA’s three biggest private hospital groups, and said on Monday that it had already spent R150m in stepping up protective measures in its facilities and readying itself for an anticipated surge in Covid-19 patients. It has paused capital expenditure projects totalling R800m, put strategic projects on hold and is suspending future share buybacks, it said in a trading update to investors...