The deal, which will give Life Healthcare control of Scanmed’s Polish business, saw the company acquire 15,667,392 shares at 4.18 Polish zloty per share.
“The private healthcare sector in Poland, one of the most dynamically developing economies in the European Union, has grown in recent years, particularly with regulatory reforms allowing private entities to provide treatment to state-funded patients,” said [DATA LHC:Life Healthcare] CEO, André Meyer.
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“Reforms in the private health insurance market are also under review – such as mandatory health insurance for employees – which makes for exciting potential for our business.”
According to the private hospital operator, the acquisition is part of its international expansion plans, which already includes the 26 per cent interest in Max Healthcare – an acute hospital business in India.
“It is exciting for us to be a proudly South African company, expanding into areas where we can make a difference and grow for the benefit of all our stakeholders. We’ll be passing on our years of experience in hospital administration to the Polish business, but at the same time, we will also be learning and importing knowledge on medical advances back home,” Meyer added.
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Jonathan Lowick, a strategy and development executive at Life Healthcare said, “Through the acquisition of Scanmed Multimedis, we gain not only a market leading brand and delivery platform, but also a strong management team with a proven track record and an appetite for growth.”
Scanmed Multimedis will be run by the existing management team, in association with Life Healthcare’s management team.