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VENTURES AFRICA – South Africa’s biggest private hospital group, Mediclinic International, on Thursday said it had acquired two pathology laboratories in Dubai in a deal valued at R262 million ($25.8m).
The firm said the deal was in keeping with the strategy of its unit in the Middle East, Mediclinic Middle East, to launch a reference laboratory that will have operational and clinical benefits to its clients.
The two laboratories are situated at Mediclinic Welcare Hospital and Mediclinic Al Sufouh respectively.
The transaction was completed in October this year and it is expected to boost the company’s earnings in the future.
However, the shares of Mediclinic International lost 0,03 percent or 2 SA cents during late trade on the JSE.
Earlier this month, Mediclinic International, said its interim profits had surged 66 percent.
It said the results were boosted by debt refinancing and a buy-out of minority shareholders in its Middle Eastern operations.
Founded in 1983, Mediclinic International is an international private hospital group with operations in Namibia, South Africa, Switzerland and the United Arab Emirates (UAE)
It has been listed on the JSE since 1986. Its head office is in Stellenbosch, South Africa.