Wrap Text
Appointment of Group Chief Executive Officer
Mediclinic International plc
(Incorporated in England and Wales)
Company Number 8338604
LSE Share Code: MDC
JSE Share Code: MEI
NSX Share Code: MEP
ISIN: GB00B8HX8Z88
LEI: 2138002S5BSBIZTD5I60
(“Mediclinic” or “the Company”)
THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION
27 November 2017
APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER
Mediclinic International plc announces the appointment of Dr Carel Aron (Ronnie) van der Merwe,
currently Mediclinic’s Group Chief Clinical Officer, as Chief Executive Officer (“CEO”) Designate to
succeed Danie Meintjes as CEO of the Company on a date to be mutually agreed, but not later than 1
August 2018. This follows the announcement made on 25 July 2017 that Mr Meintjes will retire from his
position as Chief Executive Officer and a director of the Company by no later than 31 July 2018.
Dr Van der Merwe joined Mediclinic in 1999 and has been a member of the Group’s Executive
Committee since 2008. He established the Clinical Information, Advanced Analytics, Health Information
Management and Clinical Services functions at Mediclinic and has been Group Chief Clinical Officer
since 2007. He was appointed as a director of Mediclinic International Limited in 2010 up to the
combination of the businesses of the Company (then Al Noor Hospitals Group plc) and Mediclinic
International Limited. He is also a member of the Board of Directors at Wits Donald Gordon Medical
Centre (Pty) Ltd and is the Chairman of the Board of Trustees for the Remedi Medical Aid Scheme.
Dr Van der Merwe obtained qualifications in Advanced Management (Harvard Business School, USA),
a Fellowship in Anaesthesia (College of Anaesthesiologists, South Africa) where he was the recipient
of the Jack Abelsohn Medal and a Bachelor of Medicine and Bachelor of Surgery (University of
Stellenbosch, South Africa).
Dr Edwin Hertzog, Chairman of Mediclinic, commented: “Danie has been instrumental to the
development of Mediclinic into a respected international healthcare provider delivering high-quality,
cost-efficient services to patients. We look forward to continuing to work with him until his retirement.
We are delighted that Ronnie van der Merwe will succeed Danie in leading Mediclinic, following the
thorough and rigorous global selection process carried out by the Nomination Committee with the
support from the other Non-Executive Directors. The Committee and the Board were unanimous in their
support for Ronnie, given his extensive knowledge of Mediclinic’s international operations and strong
track record of driving enhancements especially in the quality and effectiveness of our clinical services.”
Danie Meintjes said: “It has been a great privilege to lead Mediclinic’s business since 2010 and be part
of its development for more than three decades. The Company is in a strong position with good
prospects for growth and I am pleased that I will be leaving it in the capable hands of Ronnie van der
Merwe, supported by the senior management team.”
Dr Van der Merwe said: “I am delighted to have been asked by the Board to take over as Mediclinic’s
next CEO. I look forward to working with Danie and all Mediclinic colleagues, clinicians, customers,
shareholders and other stakeholders, to ensure a smooth handover and address the challenges and
opportunities facing our business in the near, medium and long term.”
There are no disclosures required pursuant to paragraphs (1) to (6) of LR 9.6.13 R of the UK Listing
Authority's Listing Rules in respect of this appointment.
Additional information
As CEO of Mediclinic, Dr Van der Merwe will receive an annual salary and board fees amounting to
£520,367* and he will also be eligible to participate in the Company’s short term incentive scheme
(“STI”) and long term incentive plan (“LTIP”), designed to incentivise and reward the successful delivery
of the business strategy and sustained shareholders value creation. Dr Van der Merwe’s maximum
award opportunity under the STI will be 150% of his annual salary, half of which will be subject to a
compulsory deferral for a period of two years. Awards under the LTIP are up to a maximum value of
200% of annual salary, with vesting subject to performance over a three year period and an additional
two-year holding period required following vesting and prior to their release. In accordance with best
practice both the bonus and LTIP contains provisions that will allow the Company to recover or withhold
value in the event of certain defined circumstances. Dr Van der Merwe’s service agreement may be
terminated on six months’ notice by either side.
Dr Van der Merwe holds 30,630 shares in the Company and will be expected to build and maintain his
shareholding in the Company to the value of 225% of his annual base salary and retain no less than
50% of the net share releases from his deferred bonus and LTIP awards until this requirement is met.
The above remuneration package and arrangements match those of the departing CEO, Danie
Meintjes, and are consistent with the terms of the Directors’ Remuneration Policy approved by
shareholders at the Annual General Meeting held in July 2017.
* The GBP cash equivalent has been calculated using the following exchange rate: £1: ZAR 18.52,
being the 5-day average GBP/ ZAR exchange rate on Friday, 24 November 2017 at 3:00pm
GMT Bloomberg.
About Mediclinic International plc
Mediclinic is an international private healthcare group with operating platforms in Southern Africa (South
Africa and Namibia), Switzerland and the United Arab Emirates. Its core purpose is to enhance the
quality of life of patients by providing acute care, specialist-orientated, multi-disciplinary healthcare
services. Mediclinic also holds a 29.9% interest in Spire Healthcare Group plc, a LSE listed and UK-
based private healthcare group.
Mediclinic comprises 75 hospitals and 29 clinics. Mediclinic Southern Africa operates 49 hospitals and
2 day clinics throughout South Africa and 3 hospitals in Namibia with more than 8 000 inpatient beds in
total; Hirslanden operates 17 private acute care facilities and 4 clinics in Switzerland with more than 1
700 inpatient beds; and Mediclinic Middle East operates 6 hospitals and 23 clinics with more than 700
inpatient beds in the United Arab Emirates.
During February 2016, the combination of the Company (previously named Al Noor Hospitals Group
plc), with operations mainly in Abu Dhabi in the United Arab Emirates, and Mediclinic International
Limited was completed. Mediclinic International Limited was a South African based international private
healthcare group founded in 1983 and listed on the JSE, the South African stock exchange, since 1986,
with operations in South Africa, Namibia, Switzerland and the United Arab Emirates (mainly in Dubai).
The combination resulted in the renaming of the enlarged group to Mediclinic International plc.
Mediclinic has a primary listing on the Main Market of the LSE, with secondary listings on the JSE in
South Africa and the NSX in Namibia.
For further information, please contact:
Company Secretary, Link Company Matters Limited
Victoria Dalby / Caroline Emmet
+44 (0)20 7954 9600
Investor Relations, Mediclinic International plc
James Arnold, Head of Investor Relations
ir@mediclinic.com
+44 (0)20 3786 8181
Media queries
FTI Consulting
Brett Pollard / Debbie Scott (UK)
+44 (0)20 3727 1000
Frank Ford (South Africa)
+27 (0)21 487 9000
Registered address: 6th Floor, 65 Gresham Street, London, United Kingdom, EC2V 7NQ
Website: www.mediclinic.com
Corporate broker: Morgan Stanley & Co International plc
JSE sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
NSX sponsor: Simonis Storm Securities (Pty) Ltd
Date: 27/11/2017 03:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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