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Mediclinic News : Netcare targets mental healthcare demand

Title

Netcare targets mental healthcare demand

Date

2016-11-23

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News Description

MEDICAL BRIEF Private hospital group Netcare has agreed to buy Akeso Clinics for R1.3bn, as it seeks to capitalise on growing demand for mental healthcare services, reports Business Day. Akeso is a chain of 10 psychiatric health facilities, with two more under construction. Like its biggest rivals, Life Healthcare and Mediclinic International, Netcare faces constraints in acquiring new hospital licences in South Africa and has tried to diversify its local business and expand offshore. In addition to its 53 hospitals in South Africa and Lesotho, it owns the UK’s biggest private hospital network, BMI Healthcare, which has 59 sites. “The incidence and prevalence of mental health disorders is increasing at a rapid rate and Netcare is underrepresented in this space. This will provide us with a really good platform to grow and expand mental healthcare services,” said Netcare CEO Richard Friedland as the company released its annual results for the year to end-September. The report says the acquisition, which was yet to be approved by the regulatory authorities, was expected to be earnings-neutral in the first year and accretive thereafter, he said.
Created at 2016/11/29 11:25 AM by Mediclinic
Last modified at 2016/11/29 11:25 AM by Mediclinic