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Johannesburg – Hospital group Medi-Clinic [JSE:MDC] has announced it plans to invest R1.4bn to upgrade existing facilities and add more beds across its three operating regions.
Medi-Clinic operates 67 private hospitals with about 8 700 beds in South Africa, Namibia, Switzerland and the United Arab Emirates.
Releasing financial results for the year end-March on Wednesday, Medi-Clinic said it would use available cash resources to fund the expansion.
"We think that opportunities are quite big in all the three regions," said Medi-Clinic chairperson Edwin Hertzog in an interview. "We also have capacity constraints. For instance, all our hospitals in Switzerland are fully occupied. So, if we're going to grow we have to expand."
The group also outlined some greenfield projects, but said it was still looking for licences for some of them.
It plans to invest about R600m in its southern African operations over the next two years, expanding capacity by about 400 additional beds.
Projects in the pipeline include the addition of 74 beds at Nelspruit Medi-Clinic, 30 beds at Limpopo Medi-Clinic and 28 beds at Tzaneen Medi-Clinic. Wits Donald Gordon Medical Centre also has approval for the upgrade of a 28-bed ward, which should be completed in December 2010.
Medi-Clinic said feasibility studies and approvals, including investigating the most appropriate funding alternatives, on the extensions of Klinik Hirslanden (about 71 beds) and Klinik St Anna (about 30 beds) in Switzerland far advanced, as is the creation of a radiology and a radiotherapy centre at Klinik Bois Cerf.
Looking ahead, Hertzog said: "We continuously evaluate interesting new opportunities that come our way as well as expansion projects at existing hospitals. However, at the moment we remain focused on optimising our business across all three platforms."
Hertzog said that means the group plans to expand within its current countries of operation, as moving out of them would need heavy capital resources.
- Fin24.com
Medi-Clinic operates 67 private hospitals with about 8 700 beds in South Africa, Namibia, Switzerland and the United Arab Emirates.
Releasing financial results for the year end-March on Wednesday, Medi-Clinic said it would use available cash resources to fund the expansion.
"We think that opportunities are quite big in all the three regions," said Medi-Clinic chairperson Edwin Hertzog in an interview. "We also have capacity constraints. For instance, all our hospitals in Switzerland are fully occupied. So, if we're going to grow we have to expand."
The group also outlined some greenfield projects, but said it was still looking for licences for some of them.
It plans to invest about R600m in its southern African operations over the next two years, expanding capacity by about 400 additional beds.
Projects in the pipeline include the addition of 74 beds at Nelspruit Medi-Clinic, 30 beds at Limpopo Medi-Clinic and 28 beds at Tzaneen Medi-Clinic. Wits Donald Gordon Medical Centre also has approval for the upgrade of a 28-bed ward, which should be completed in December 2010.
Medi-Clinic said feasibility studies and approvals, including investigating the most appropriate funding alternatives, on the extensions of Klinik Hirslanden (about 71 beds) and Klinik St Anna (about 30 beds) in Switzerland far advanced, as is the creation of a radiology and a radiotherapy centre at Klinik Bois Cerf.
Looking ahead, Hertzog said: "We continuously evaluate interesting new opportunities that come our way as well as expansion projects at existing hospitals. However, at the moment we remain focused on optimising our business across all three platforms."
Hertzog said that means the group plans to expand within its current countries of operation, as moving out of them would need heavy capital resources.
- Fin24.com
