Share

Value to burn from SA-born FTSE100 stock you’ve probably never heard of.

By Alec Hogg

I’ve got a soft spot for Mediclinic, not just because my children were born in one of their hospitals. The company’s founder and chairman Edwin Hertzog is one of the great gentlemen of South African business and one of the most humble, too.

The one-time medical anaesthetist started the private hospitals business in 1983 quietly steering it into today’s R113bn multinational giant. Now 67, Hertzog has handed the operational roles to CEO in Danie Meintjies who is executing SA business’s most ambitious global expansion programme you’ve never heard of.

Meintjies happened to be in the same building in London yesterday; me to meet another SA-related CEO, he to fulfil engagements that come with a position on the FTSE100. Unfortunately there was only time for a handshake and a bit of chit-chat, but from his quiet confidence and from the investor call, long-term investors could do worse than have a closer look at the stock.

In Sterling terms, Mediclinic shares are down 30% since August. That’s bizarre considering 92.5% of the company’s assets are outside the UK – hospitals and clinics in Switzerland, SA and the UAE – whose currencies have gained over 15% against the post-Brexit Pound. There’s value to burn at the current share price, especially for those who like to buy quality shares to put into the bottom drawer.

* For more in-depth business news, visit biznews.com or simply sign up for the daily newsletter.

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders