Hospital group Life Healthcare is mulling its options on where to invest some of the proceeds from the sale of its stake in Max Health. One potential area for investment is diagnostic imaging. Like many companies in the health-care industry, Life Healthcare has borne the brunt of an increasingly challenging environment marked by regulations that are becoming more stringent. Such changes led to the hospital group selling its 49.7% stake in India-based Max Health to Radiant Life Care, a health-care facility operator also in India, for about R3.9bn in December last year. On Tuesday, Life Healthcare group CEO Shrey Viranna said he anticipated between R2.9bn and R3bn of the proceeds would be used to pay debt linked to Max Health. The balance may go towards growth opportunities. "Formally right now we haven't explicitly said 'here's what it's earmarked for' but I'm comfortable in saying that, as a management team, our sense is that we are quite excited about our growth opportunities," sai...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.