Mediclinic buys Swiss hospital for R1.5bn

Comment on this story
Mediclinic Independent Newspapers Mediclinic Morningside in Johannesburg. Photo: Leon Nicholas.

Johannesburg - Mediclinic International, South Africa’s largest private-hospital owner, bought Clinique La Colline in Switzerland, using some of the 3.18 billion rand it raised earlier this month.

The 130 million-Swiss franc (R1.5 billion) deal will be earnings-per-share accretive immediately, Stellenbosch-based Mediclinic said in a statement today.

Geneva-based Clinique has 95 beds and six operating theaters and will become part Mediclinic’s Swiss Hirslanden business.

The purchase “significantly strengthens Hirslanden’s position in western Switzerland, through providing a footprint in Geneva, and is in line with the company’s strategy to increase capacity in attractive markets with strong fundamentals,” Mediclinic said.

Mediclinic said on June 12 it sold 41 million shares to institutional investors at 77.50 rand apiece as it raised money for acquisitions in Switzerland, the United Arab Emirates and Africa. - Reuters

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines