Shares of private hospital operator Mediclinic recorded their biggest gain since October 2021 after the company restored its dividend and reported that easing Covid-19 restrictions helped all three of its divisions beat pre-pandemic revenue in its 2022 year.

The CEO of SA’s biggest hospital group by market value, Ronnie van der Merwe, said on Wednesday the company was expecting further improvement in all key metrics in 2023, encouraged by a gradual normalisation in case mix, as well as long-term structural trends in the market...