Healthcare Industry News
CORRECTED SAfrica Life Healthcare buys hospital
Friday, 04, June 2010
South African private hospital group Life Healthcare has bought a 102-bed hospital, expanding its domestic network ahead of a high-profile stock listing.The company plans to raise $1 billion through a public offering on the Johannesburg Stock Exchange next week, in what is likely to be South Africa's second-largest IPO on record.The company has said it is considering further expansion, including into India and Turkey.
The company said on Wednesday it acquired Bayview Private Hospital in Mossel Bay, in South Africa's Western Cape, bringing its total to 63 private hospitals in South Africa. It did not say how much it paid for the acquisition.Life Healthcare competes with Netcare (NTCJ.J) and Medi-Clinic (MDCJ.J) in Africa's fast growing and competitive private healthcare industry.The company is due to announce its IPO pricing on Friday and is scheduled to list on the JSE on June 10.
