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Mediclinic News : Mediclinic to acquire majority stake in life path health

Title

Mediclinic to acquire majority stake in life path health

Date

2017-01-24

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News Description

FIN24.COM Cape Town - Mediclinic Southern Africa [JSE:MEI] confirmed on Tuesday that it will acquire a majority stake in Life Path Health. Life Path Health is a mental health treatment provider which operates seven facilities currently concentrated in the Western Cape, with a further three in the pipeline in other regions of South Africa. Mediclinic said in a statement it believes this acquisition will fulfil its strategic objective of expanding the basket of care services available to the South African market, while also leveraging off the experience and track record offered by Life Path Health. Mediclinic CEO Koert Pretorius said: “There is a strong alignment between Life Path Health’s current healthcare offering and Mediclinic’s vision of transforming into a more integrated healthcare service provider, offering a broader range of services to our patients.” Life Path Healthcare CEO Anton Rossouw said the company sees the development as the next phase in its growth path. While it will form part of the Mediclinic offering, business will remain as is for the mental health provider, with no structural or operational changes on the cards in the immediate future. Mediclinic advised that its acquisition of the majority stake in Life Path Health is subject to conditions, including approval by the competition authorities. Mediclinic's share price on the JSE showed a 0.45% increase to R132.60 at 11.40.
Created at 2017/01/30 04:45 PM by Mediclinic
Last modified at 2017/01/30 04:45 PM by Mediclinic