Misplaced Pages

Mediclinic International

Article snapshot taken from Wikipedia with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.
South African hospital company
Mediclinic Group
Company typePrivate
Traded as
IndustryHospital management
FoundedOctober 3, 1983; 41 years ago (1983-10-03)
HeadquartersStellenbosch, South Africa
Key peopleDr Ronnie van der Merwe (CEO)
RevenueIncrease £3,233 million (2022)
Operating incomeIncrease £280 million (2022)
Net incomeIncrease £170 million (2022)
Number of employees34,278 (2022)
Websitewww.mediclinic.com

Mediclinic Group, founded in 1983, is an international private hospital group with operations in South Africa, Namibia, Switzerland and the United Arab Emirates. The Group's head office is based in Stellenbosch, South Africa. It has been listed on the JSE, the South African securities exchange, since 1986. It was listed on the London Stock Exchange until it was acquired by a South African consortium which included Remgro and Mediterranean Shipping Company in May 2023.

History

Mediclinic was founded in 1983 in Stellenbosch, South Africa when Dr Edwin Hertzog, was commissioned by the then Rembrandt Group (now Remgro Group) to undertake a feasibility study on how profitable private hospitals could be. Three years later Mediclinic, running four hospitals in commission and three hospitals under construction, listed on the JSE, the South African stock exchange in 1986.

Mediclinic Africa Head Office in Stellenbosch, South Africa.

In 2006, Mediclinic reached agreement to acquire a controlling interest in Emirates Healthcare in Dubai, United Arab Emirates, which then owned one hospital, the rights to develop two further hospitals in the Dubai Healthcare City and five clinics.

Mediclinic acquired Hirslanden, the largest private hospital group in Switzerland, for SF2.54bn in 2007.

In June 2015, Mediclinic then acquired a 29.9% interest in Spire Healthcare, a UK-based private healthcare group.

Mediclinic announced a reverse merger of Al Noor Hospitals in October 2015. The former Mediclinic shareholders owned up to 93% of the combined business on completion. The merger was completed on 15 February 2016.

The healthcare group officially started trading on the London Stock Exchange on 16 February 2016.

The founder stepped down in 2020 and Dame Inga Beale took over as Chair of the company.

The South African arm of Mediclinic was criticised in 2021 when it emerged that controversial doctor and former South African chemical and biological weapons program head Wouter Basson was working at one of its Western Cape facilities.

In August 2022, the company accepted a takeover offer worth £3.7 billion from a South African consortium which included Remgro and Mediterranean Shipping Company. In May 2023, the company confirmed that the South African Reserve Bank had approved the transaction, so allowing it to complete.

Operations

Mediclinic also holds a 29.9% interest in Spire Healthcare, a LSE listed and UK-based private healthcare group.

References

  1. ^ "Annual Results 2022". Mediclinic International. Retrieved 17 February 2023.
  2. ^ "Mediclinic gains from R29bn refinancing". Financial Mail. 11 September 2012. Retrieved 3 February 2016.
  3. ^ "Medi-Clinic to buy Swiss hospitals for $2.36 bln". Reuters UK. 2 August 2007. Archived from the original on June 2, 2016. Retrieved 16 February 2016.
  4. "Spire Healthcare sells 29.9pc stake to Johannesburg rival". The Telegraph. 22 June 2015. Retrieved 16 February 2016.
  5. ^ "Mediclinic International and Gulf group Al Noor agree on tie-up". Business Day Live. 14 October 2015. Retrieved 3 February 2016.
  6. "Al Noor Hospitals completes merger with Mediclinic". Digital Look. 15 February 2016. Retrieved 15 February 2016.
  7. "Merged Al Noor/Mediclinic to list on Feb 15, eyes Gulf expansion". Reuters. 16 February 2016.
  8. "Mediclinic International Appoints Dame Inga Beale As Independent Non-Executive Director, Chair Designate". Reuters. 27 March 2020. Retrieved 27 April 2023.
  9. Head, Tom (19 January 2021). "Wouter Basson, apartheid's 'Dr. Death', revealed to be working at a Mediclinic". The South African. Retrieved 19 January 2021.
  10. "Hospital group Mediclinic to be taken private by South African consortium for £3.7bn". Proactive Investors. 4 August 2022. Retrieved 19 May 2023.
  11. "Mediclinic takeover to conclude next week as SARB gives green light". London Stock Exchange. 16 May 2023. Retrieved 24 May 2023.

External links

Categories: