Data provided by iNet BFA
Loading...
See More

Mediclinic to take full control in Dubai

Aug 27 2012 09:32 Reuters

Company Data

MEDICLINIC INTERNATIONAL LIMITED [JSE:MDC]

Last traded 85.21
Change -0.09
% Change 0.00
Cumulative volume 51944
Market cap 73.96bn

Last Updated: 25/07/2014 at 10:28. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Mediclinic eyes R5bn in rights offer

Quality above all

Mediclinic boasts 10.7% rise in H1 profit

Health cost to be probed

Hospitals, specialists drive up costs

Medical schemes back new tariffs

 
Johannesburg - Mediclinic [JSE:MDC], South Africa’s No. 2 private hospital group by value, is to pay $223.6m to buy out minorities in its Middle East business, it said on Monday, giving it full control of Dubai’s biggest private healthcare operator.

Mediclinic, whose stake in Emirates Healthcare is just over 50%, said it would buy the remainder from Varkey Group and General Electric Company.

Emirates Healthcare runs two hospitals and eight clinics in the Middle Eastern nation, treating more than 600 000 patients per year.

Cape Town-based Mediclinic would fund the deal through an equity contribution of R1bn ($119.13m) and debt raised in Dubai, it said.

It said it was in advanced talks with Standard Chartered Bank about a debt funding.

Earlier this month, Mediclinic, which also operates the largest private hospital chain in Switzerland, said it would raise R5bn through a rights issue to refinance debt and fund expansion.

* Follow Fin24 on Facebook, Twitter and Google+.


mediclinic  |  healthcare
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

This is what banks do with your money

Gone are the days of saving cash under your mattress. Banks are now the custodians of your precious pennies, but what do they do with them?

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...