“The acquisition will enable clinical colleagues and staff to advance and develop their careers as expertise is transferred between the territories that Life Healthcare operates in. This provides further opportunities to improve imaging processes in Life Healthcare’s South African hospitals through driving efficiencies in the processes and systems, as identified by Alliance Medical,” he concludes.
The acquisition is to be funded by way of a rights issue to qualifying Life Healthcare shareholders, a term loan in South Africa and debt financing in the United Kingdom. Following the conclusion of the acquisition, Alliance Medical will become a Life Healthcare subsidiary.
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About Life Healthcare
Life Healthcare has more than 32 years’ experience in the private healthcare and hospital industry. Headquartered in Johannesburg, South Africa and listed on the JSE, the Group’s primary business is private acute hospital care. Facilities comprise of 63 healthcare facilities in seven of South Africa’s nine provinces and one hospital in Botswana. The Group offers a wide range of complementary healthcare services: rehabilitation; mental health and renal dialysis and through Life Occupational Health and Careways, offer an integrated employee health solution to manage a full employee health and wellness cycle to corporates. The Group is the first and only South African hospital group to have achieved a multisite IS09001 certification. It also operates in Poland with a joint venture in India. For additional information visit lifehealthcare.co.za
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