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Mediclinic buys Swiss hospital for R1.5bn

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.

Mediclinic Morningside in Johannesburg. Photo: Leon Nicholas. Credit: Independent Newspapers

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

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