Nedbank Corporate Banking on Tuesday announced the successful conclusion of a funding agreement of R1 billion to healthcare group Netcare.
The funding, in the form of a term facility over three years, will provide Netcare with the financial flexibility to meet their short and long-term goals, which, among others, includes broadening access to affordable healthcare to as many South Africans as possible.
Keith Gibson, Chief Financial Officer of Netcare Limited, said: “The ability of Netcare to invest in our leading facilities and infrastructure, and to fund working capital requirements, allows us to continue delivering innovative, quality healthcare solutions to our patients. We are pleased to have partnered with Nedbank to source appropriate funding in this regard.”
Graeme Auret, Managing Executive of Nedbank Corporate Banking, said: “Our skills and expertise in structuring customised funding solutions have enabled us to meet Netcare's requirements. We are pleased to be playing a role in assisting our client of 13 years in their growth aspirations, and by so doing, ultimately contributing to the development of an investment in our country's medical and healthcare sector.”
Nedbank is sole provider of the loan facility. - I-Net Bridge