Life Healthcare exits Polish business
By Sandile Mchunu
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JOHANNESBURG - LIFE Healthcare completed the disposal of its Polish business Scanmed S.A for a cash consideration of R1.29 billion to Abris Capital Partners, a central European private equity fund manager.
The diversified healthcare group has decided to focus on its strategy of growing its share of non-acute revenue and earnings as the reason for the disposal of the business.
Life Healthcare acquired Scanmed in 2014 and the Polish hospital business operates in 42 locations across that country and offers comprehensive medical services in acute facilities, cardiac centres, monoclinics and outpatient facilities.
Photograph by Maneesh Agnihotri
Dr Sandeep Budhiraja, Group Medical Director, Max Healthcare, joined the Analjit Singh-promoted hospital chain in January 2001 as a founder member. I have seen the growth of Max, which started as a small ambulatory care centre at Panchsheel Park in New Delhi, says Budhiraja. The veteran doctor now works under a new Chairman and Managing Director, 46-year-old Abhay Soi, formerly a turnaround and restructuring specialist with firms, including Arthur Anderson, EY and KPMG. We are now the most profitable and fastest-growing healthcare company in India and the second largest in terms of revenue, says Soi.
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