Mar 30, 2017 Last Updated 9:01 AM, Mar 30, 2017

NAHHG formed for investment in North African healthcare

ABN – Abraaj Group has announced the formation of the North Africa Hospital Holdings Group (NAHHG).

NAHHG will become an investment platform to improve the quality and accessibility of healthcare in Egypt and Tunisia.

Abraaj Group will invest US$145 million into the fund and EBRD will make a $25 million investment while DEG and Proparco will provide $15 million each.

Ahmed Badreldin, Abraaj Group head of Middle East and North Africa, said: “Our investment in the North Africa Hospital Holdings Group is based on our capacity to bring our deep global experience in healthcare to markets that need and stand to benefit the most from them.

“Over the past six months, we have set in place several initiatives in each hospital, including soft skills training for staff, upgrading ER and radiology facilities, establishing global governance standards, improving medical services offerings and hiring skilled physicians.

“By expanding the healthcare platform across North Africa, we are confident in raising the standard for quality and affordable healthcare in the region.”

@ABNetworkOnline

Bidvest Group to acquire Adcock Ingram Holdings shares

ABN – Bidvest Group (JSE: BVT) is looking to acquire shares in Adcock Ingram Holdings (JSE: AIP) in a deal worth an estimated R6 billion (US$515 million).

The company already owns 34.5% of Adcock Ingram Holdings and is hoping to acquire the rest for R52 per share.

Adcock Ingram Holdings has been struggling to raise sales as it runs below capacity due to the heavily regulated South African market.

Bidvest had previously offered R4 billion to Adcock shareholders in 2013 for the initial 34.5%.

@ABNetworkOnline

Life Healthcare Group expands international presence

ABN – South Africa’s largest private hospital operator Life Healthcare Group has expanded its presence in Poland.

The group recently acquired two facilities in the country – an orthopaedic and rehabilitation centre called Sport Klinika and a cardiac care centre called Kliniki Kardiologii Allenort.

A combined total of 680 million (58.7 million) rand was spent on both the deals.

Life Healthcare Group Holdings CEO André Meyer said: “Our latest acquisitions will give us a significant footprint in that market which we are well positioned to manage through our existing management team based in Poland.

“The acquisitions complement our existing network of healthcare facilities in Poland and represent an important milestone in the progress of our international expansion strategy.”

The group’s presence in Poland now includes ambulatory, diagnostics and specialist areas such as our dedicated cardiology and orthopaedic units.

@ABNetworkOnline 

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