Life Healthcare completes Scanmed sale

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Life Healthcare completes Scanmed sale

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Published Date: 2021-04-06 | Source: Stephen Gunnion | Author: Stephen Gunnion

Life Healthcare completes Scanmed sale

The private hospital group decided to sell its Polish business due to a shift in strategy.

Life Healthcare has completed the sale of its Scanmed to European private equity fund manager Abris Capital Partners.

The company said the total enterprise value of its Polish private hospital business was R1.29-billion, below the carrying value of about R1.5 billion at the end of September, which will result in an impairment for the year to end-March. The disposal would be settled in cash and it would receive net proceeds of about R692-million after settling debt in Scanmed and transaction costs.

Life Healthcare bought Scanmed in 2014 but decided to sell due to a shift in strategy to grow its share of non-acute revenue and earnings.

Its shares closed 2.7% higher at R19 on Thursday.





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