Hospital group Network Healthcare Holdings on Thursday announced an envisaged R1-billion deal that will result in broad-based empowerment groupings acquiring 10% of the group.
The group said the BEE grouping would be newly constituted so as to “empower people in the most extensive sense”.
It was envisaged that the participants would include, among other entities, the Mother & Child Trust, the Healthy Lifestyle Trust, the Patient Care Trust, the Passionate People Trust and the Physicians Partnerships Trust. The broad-based grouping will be known as the Health Partners for Life.
Of the 10%, the Mother & Child Trust will hold 7,5%, the Healthy Lifestyle Trust 5%, the Patient Care Trust 37,5%, the Passionate People Trust 20,5% and the Physician Partnerships Trust 30%.
The envisaged deal is aimed at establishing a funding structure that is sustainable, irrespective of equity market conditions and interest rate fluctuations, Netcare said.
It added that Netcare was committed to achieving sustainable black ownership of more than 25%.
“Netcare is committed to transforming healthcare, addressing inequalities and mobilising the potential of all South Africans with the objective of contributing towards sustained economic growth, development and social transformation in South Africa,” Netcare said.
“A positive and proactive response from the private healthcare sector through the implementation of meaningful transformation will unlock the sector’s potential and enhance its growth and, more importantly, will ensure better care to more people,” it added. – I-Net Bridge