Cashing in on the Netcare way
Something has to be said about Netcare CEO Richard Friedland’s navigation skills. At the helm of the private hospital group since 2005, when he succeeded group co-founder Jackie Shevel, Friedland remains a medical doctor at heart. Still, his track record as a businessman is impressive. He has bolstered Netcare’s asset base at home, while landing opportunities in the UK and, more recently, in
Lesotho (via a public-private partnership running a hospital in Maseru).
During Friedland’s nearly dec ade-long tenure, challenging notably on the regulatory and economic fronts, Netcare expanded in the UK through the purchase of a stake in General Healthcare Group (CHG), owner of BMI Healthcare, the UK’s l argest private acute- care hospital provider. Netcare also provides services to the National Health Service (NHS), including operating surgical centres.
Netcare also increased its footprint in South Africa, where it now has nearly 10 000 hospital beds, giving it a 27% market share in private care. Under Friedland’s watch, Netcare’s market cap has increased almost six-fold to nearly R60bn, comfortably outperforming the Alsi, which trebled over the same period.
“While d r i v i n g s h a r e hol d e r objectives, it’s important that we never