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Netcare buys General Healthcare stake

Johannesburg - Healthcare group Netcare (NTC) has agreed to acquire Brockton Capital’s stake in General Healthcare Group (GHG) for a cash consideration of GBP11 million.

The company has simultaneously agreed to sell to its other GHG partners - Apax Partners and London & Regional Properties - certain interests in the GHG property companies which house the 35 properties acquired in 2006‚ previously managed by Brockton Capital‚ Netcare said on Thursday.

Netcare CEO, Richard Friedland presanting the company annual results at their head offices in Sandton North of Johannesburg. Photo: Simphiwe Mbokazi. Credit: inlsa

As a result of the transactions‚ Netcare's beneficial interest in BMI OpCo‚ the operating company within the GHG Group‚ and GHG PropCo 2‚ which consists of six hospital properties acquired from Nuffield in 2008‚ is now 53.72% and its beneficial interest in GHG PropCo 1 remains at 50.0%.

“Effective immediately‚ Brockton Capital‚ and any entities advised by Brockton Capital‚ no longer maintain any involvement with GHG‚ its operating brand BMI Healthcare‚ or any other related holdings or subsidiaries‚” it said.

The transactions fall below the categorisation thresholds of the JSE Limited Listings Requirements and the announcement was made on a voluntary basis‚ it added. - I-Net Bridge

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