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NTC - Netcare - Netcare announces the appointment of a new chief

Release Date: 13/03/2007 16:54
Code(s): NTC
Wrap Text

NTC - Netcare - Netcare announces the appointment of a new chief executive for its UK subsidiary GHG NETWORK HEALTHCARE HOLDINGS LIMITED (Registration number 1996/008242/06) Code: NTC ISIN number: ZAE000011953 ("Netcare" or "the Group") Netcare announces the appointment of a new Chief Executive for its UK subsidiary GHG Netcare announces that Adrian Fawcett has been appointed Chief Executive of General Healthcare Group ("GHG"), Netcare`s 52.6% held subsidiary, the leading independent private healthcare provider in the UK. Mr Fawcett will join GHG on 30 April 2007 and will initially be working with Richard Friedland, Netcare`s Group Chief Executive Officer, who has been acting as CEO of GHG in the interim. Mr Fawcett has an MBA from Cardiff Business School and a B.Sc in Economics from University of Wales, Cardiff. During his career he has held a number of senior management positions, including Corporate Vice President of Interbrew, Group Managing Director of Bass Brewers and Divisional Director at Mars Confectionery. Before joining GHG, Mr Fawcett spent three and a half years as Chief Operating Officer for Punch Taverns, the UK`s largest pub leisure company. There he demonstrated success in strategic developments and leadership as the company`s market value grew from GBP600 million to GBP3,1 billion. In February 2007, Netcare was awarded Dealmaker of the year award for 2006 in South Africa, for its acquisition of GHG. Sandton 13 March 2007 Sponsor: Merrill Lynch South Africa (Pty) Ltd About Netcare (www.netcare.co.za) Network Healthcare Holdings Limited, an investment holding company listed on the JSE Limited, South Africa, operates through its subsidiaries the largest private hospital networks in South Africa and the United Kingdom. As of 30 September 2006, the group managed 120 private hospitals and clinics, equipped with more than 11 700 beds. The group had consolidated revenue of R11 616 million (GBP799 million) and operating profit of R1 568 million (GBP108 million) for the year ended 30 September 2006. The group had total assets of R50 501 million (GBP3 476 billion) and a market capitalisation of R22 056 million (GBP1 518 million) as of 30 September 2006. In 2002 Netcare entered the United Kingdom market to provide specialised healthcare services on contract to the National Health Service ("NHS"). In May 2006 Netcare acquired a controlling 52.6% interest in General Healthcare Group ("GHG"). GHG owns BMI Healthcare, the largest private acute care hospital provider in the United Kingdom, operating 49 acute care private patient hospitals with over 2 400 beds. Date: 13/03/2007 16:54:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department.

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