7th Feb 2020 08:59
(Alliance News) - Mediclinic International PLC on Friday it has secured approval to acquire a controlling stake in a South African healthcare firm, which operates hospitals in the country's North West province.
The London and Johannesburg-listed private hospital operator said it began a process to acquire Matlosana Medical Health Services Pty Ltd in 2015. The acquisition recently received approval from South Africa's Competition Appeal Court and Mediclinic expects the deal to be completed in the middle of 2020.
Matlosana operates the 185-bed Wilmed Park Hospital and the 62-bed Suinningdale Hospital, both in the South African city of Klerksdorp. The deal also includes the acquisition of a 51% stake in Klerksdorp-based Parkmed Neuro Clinic psychiatric hospital.
Mediclinic said: "Mediclinic Southern Africa initiated the acquisition process in 2015. Following various approval processes, the matter was referred to the Competition Appeal Court which has now ruled in favour of the acquisition."
Its Chief Executive Koert Pretorius added: "We are delighted to expand our current care offering within the North West Province of South Africa. Mediclinic remains focused on delivering high-quality healthcare services across the continuum of care and an excellent client experience.
"The Wilmed Park Hospital has consistently been recognised as one of the best hospitals within the North West Province and we are excited to work with the many doctors, nurses and staff at Matlosana to build on that reputation."
Mediclinic shares were 1.0% higher in London's FTSE 250 index on Friday morning, trading at 386.00 pence each. In Johannesburg, they were 1.5% higher at ZAR74.66 each.
By Eric Cunha; [email protected]
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