Life Healthcare spreads wings abroad

PRIVATE hospitals group Life Healthcare is looking to grow more aggressively abroad and may enter another country in the near future‚ having already established itself in South Africa‚ India and Poland.

The group said there

had been fewer growth opportunities in South Africa and it was trying to diversify outside the country. About 95% of Life’s revenue came from South Africa.

Chief executive Andre Meyer said at the weekend at the release of the group’s financial results for the year to September‚ that Life’s investments abroad would pay off in the future.

“We are looking at more countries as it is our strategy to grow a countrywide network of healthcare facilities. To enter another market‚ however‚ we will need to tread carefully and a capital raise may be needed‚” he said. Life increased its headline earnings per share 1.2% to 179.9c during the reporting period.

36One Asset Management analyst Jean Pierre Verster said Life’s results were fair overall‚ given South Africa’s market.

“Life does not enjoy the same growth in demand in South Africa for private healthcare it did in past years and needs to find this abroad.” — BDLive