Net 1 UEPS Technologies, Inc. today announced that it has agreed to acquire 100% of MediKredit Integrated Healthcare Solutions (Pty) Ltd ("MediKredit") for ZAR 74 million (approximately USD 10 million) in cash.
MediKredit is a South African private company that offers transaction processing, financial and clinical risk management solutions to both funders and providers of healthcare. The transaction is expected to close in February 2010 when all regulatory approvals have been obtained. MediKredit will provide Net 1 the opportunity to expand Net1`s technology to another adjacent market and to cross-sell its payment technologies.
