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Completion of the disposal of 100% of shares in Scanmed S.A.
LIFE HEALTHCARE GROUP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/002733/06)
ISIN: ZAE000145892
Share Code: LHC
("Life Healthcare" or "the Group" or "the Company")
COMPLETION OF THE DISPOSAL OF 100% OF SHARES IN SCANMED S.A.
Further to the announcement released on the Stock Exchange News Service on 26 November 2020,
the Company is pleased to announce the completion of the disposal of its shares in Scanmed S.A
("Scanmed") in Poland to Abris Capital Partners, a central European private equity fund manager (the
"Disposal" or "Transaction"). All conditions precedent were fulfilled (including obtaining relevant
regulatory approvals) and the Transaction was closed out on 26 March 2021.
Scanmed´s total enterprise value, representing the Disposal consideration, is PLN340 million (R1 292
million). The Disposal consideration will be settled in cash and Life Healthcare will receive net proceeds
of approximately PLN185 million after settling debt in Scanmed and Transaction costs. The expected
Rand value of the Transaction proceeds is R692 million (using a spot PLN:ZAR exchange rate of 3.74
as at 31 March 2021).
The Disposal is consistent with the Group’s strategy of growing its share of non-acute revenue and
earnings.
About Life Healthcare Group:
Life Healthcare Group is a global, people-centred, diversified healthcare organisation and is listed on
the Johannesburg Stock Exchange. Life Healthcare has over 33 years’ experience in the South African
private healthcare sector, and currently operates 66 healthcare facilities in southern Africa. Services
include acute hospital care, physical rehabilitation, mental healthcare, oncology, renal dialysis,
employee health and wellness services. The Group owns Alliance Medical Group, a leading
independent provider of medical imaging services operating across the United Kingdom and Europe.
About Scanmed:
Scanmed operates in 42 locations across Poland and offers comprehensive medical services in acute
facilities, cardiac centres, monoclinics and outpatient facilities.
The exchange rate used in this announcement is the closing rate at 26 March 2021 of PLN1: R3.80.
For further information, please contact:
Mark Wadley, Head of Investor Relations
investor.relations@lifehealthcare.co.za
Illovo
1 April 2021
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 01-04-2021 10:30:00
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