Press release - 2 June 2010
ACQUISITION OF BAYVIEW PRIVATE HOSPITAL
Life Healthcare to strengthen presence in the Western Cape
Life Healthcare Group Holdings Limited (“the Company” or “Life Healthcare”), a leading private hospital operator in the South African healthcare sector, is proud to announce their acquisition of Bayview Private Hospital (“Bayview”). The acquisition complements Life Healthcare’s proposed expansion of their network of hospitals in South Africa in line with their overall growth strategy. Life Healthcare is set to list on the main board of the securities exchange operated by the JSE Limited (“JSE”) on 9 June 2010.
Bayview Private Hospital is a high-tech hospital in Mossel Bay, in the Western Cape, with 102 beds, 5 operating theatres, a cardiac catheterization laboratory and an accident and emergency unit. The specialist cardiac catheterization unit will increase Life Healthcare’s number of units to 12.
Michael Flemming, Managing Director of Life Healthcare said:
“We are excited about this acquisition. Bayview affords us the opportunity to broaden our geographic footprint within South Africa and particularly in the Western Cape region.”
Bayview’s hospital services include a variety of specialist services such as cardiology and cardiothoracic surgery; orthopaedic surgery; urology; ear, nose and throat surgery; gastroenterology; general surgery and endoscopic surgery; gynaecology; neurosurgery and neurology; ophthalmology; vascular and endovascular surgery.
Life Healthcare has more than 25 years experience operating private hospitals. Its primary business is acute private hospital care with 62 acute care facilities and over 8,100 beds. In addition, the Company is a leading provider of contracted on-site occupational and primary healthcare services. Life Healthcare also owns Life Esidimeni which is South Africa’s largest hospital public private partnership with 12 facilities and over 4,100 beds.