This follows the group’s acquisition of two additional facilities in Poland ‒ Sport Klinika (orthopaedic and rehabilitation services) and Kliniki Kardiologii Allenort (cardiac care).
(WATCH VIDEO: Life Healthcare Group to invest USD 132 million in Max Healthcare Institute)
According to the group, the acquisitions were facilitated by Scanmed Multimedis, Poland’s leading private healthcare company and a wholly owned subsidiary of Life Healthcare, since November 2014.
The deals, worth approximately 250 million rand and 430 million rand respectively, form part of the Life Healthcare Group’s longer term international growth strategy.
[DATA LHC:Life Healthcare Group Holdings Ltd]’s chief executive, André Meyer, says that although the demand for private healthcare services in South Africa remain strong, the market continues to mature and therefore the potential for future growth, especially through acquisitions, will come mainly from international markets.
“Our latest acquisitions will give us a significant footprint in that market which we are well positioned to manage through our existing management team based in Poland.”
Meyer adds that the Group’s business in Poland now includes ambulatory, diagnostics and specialist areas such as our dedicated cardiology and orthopedic units.
Sport Klinika (SK) offers outpatient orthopaedic consultations; arthroscopic and endoscopic surgeries; a comprehensive rehabilitation programme and the training of medical doctors.
Kliniki Kardiologii Allenort (KKA) offers comprehensive cardiology services. The business has six in-patient cardiology facilities staffed by experienced teams of doctors.
Poland is the sixth-largest economy in Europe, and has enjoyed an average growth in annual gross domestic product of 4.3 per cent over the past decade.
(WATCH VIDEO: Life Healthcare acquires majority stake in Polish Healthcare Group)
During this time the compound annual growth rate for public health expenditure was 8.4 per cent, while growth in the private healthcare market was 7.5 per cent. Approximately 10 per cent of Poland’s population of 38 million has private health insurance.
“The acquisitions complement our existing network of healthcare facilities in Poland and represent an important milestone in the progress of our international expansion strategy,” added Meyer.