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Johannesburg - Medi-Clinic Corporation [JSE:MDC] plans to raise R1.4bn via a rights offer to fund expansion in Switzerland, where it runs the country's biggest private hospital group.
Med-Clinic, which also runs hospitals in Namibia and South Africa, said on Monday it will sell nearly 60 million shares for R23 each.
While demand for private healtha care has increased in South Africa, the company has said it sees fewer growth opportunities at home, where it competes with Life Healthcare and Netcare.
Medi-Clinic said it plans to increase its beds in Switzerland by 7.4% to 1 466 beds and will build a new radiology and radiotherapy centre at one of the hospitals.
South African investment firm Remgro, Trilantic Capital Partners, which together have a 53% stake in Medi-Clinic, have agreed to subscribe to the issue.
The offering is underwritten by South Africa's Standard Bank.
- Sapa
Med-Clinic, which also runs hospitals in Namibia and South Africa, said on Monday it will sell nearly 60 million shares for R23 each.
While demand for private healtha care has increased in South Africa, the company has said it sees fewer growth opportunities at home, where it competes with Life Healthcare and Netcare.
Medi-Clinic said it plans to increase its beds in Switzerland by 7.4% to 1 466 beds and will build a new radiology and radiotherapy centre at one of the hospitals.
South African investment firm Remgro, Trilantic Capital Partners, which together have a 53% stake in Medi-Clinic, have agreed to subscribe to the issue.
The offering is underwritten by South Africa's Standard Bank.
- Sapa
