South Africa-based private hospital group Mediclinic International’s major shareholder Remgro has signed an agreement to purchase a 29.9% stake in UK-based Spire Healthcare Group from Cinven, for £431.7m.
Under the deal, Remgro, through its wholly-owned subsidiary Remgro Jersey, will acquire 119,923,335 ordinary shares in Spire at a price of 360p per share.
Spire Healthcare Group CEO Robert Roger said: "This is an exceptional opportunity for us to gain a strategic investor who understands our business and growth ambitions as we develop our asset base to meet the significant capacity growth we expect for the UK private healthcare sector in the medium to long-term.
"We look forward to working with them to explore ways our two businesses can co-operate to serve both our patients and our shareholders even more effectively."
Spire Healthcare operates 39 hospitals, 13 clinics and one radiotherapy cancer centre across England, Wales and Scotland. It offers services in areas, including orthopaedics, gynaecology, cardiology, neurology, oncology and general surgery, as well as diagnostic services such as imaging and pathology.
In addition, it provides out-patient services, comprising consulting, minor procedures, treatments, health checks and physiotherapy.
Mediclinic International CEO Danie Meintjes said: "Both Mediclinic and Spire will benefit from collaboration through the sharing of knowledge and experience and improving cost synergies and efficiencies."
Mediclinic operates facilities in southern Africa, including South Africa and Namibia, Switzerland and the United Arab Emirates (UAE).
It has 49 acute care private hospitals in South Africa and three in Namibia with 7,885 beds. Hirslanden operates 16 acute care private hospitals with 1,655 beds and three primary care outpatient clinics in Switzerland.
Mediclinic Middle East runs two hospitals and eight clinics in Dubai, UAE and two clinics in Abu Dhabi with 382 beds in total.
Image: Entrance to Parmalat and Mediclinic offices in Stellenbosch, South Africa. Photo: courtesy of HelenOnline.