Standard Bank is proud to have supported Busamed in its recent acquisition of the operations of Gateway and Hillcrest private hospitals from Ross Healthcare.
“Our support for Busamed is a great example of partnering with emerging businesses that are truly competitive in their sectors,” says Kenny Fihla, Standard Bank Chief Executive Officer for Corporate and Investment Banking.
In a ZAR1.7 billion transaction, Busamed acquired the operations of the Gateway and Hillcrest private hospitals, whilst Growthpoint acquired the properties of the two hospitals which are leased to Busamed.
This transaction has seen Busamed, a pre-eminent black owned and operated national specialist private hospital network, owning three of the top ten private hospitals in South Africa.
“Standard Bank is committed to driving growth in South Africa, and we are pleased to have worked alongside Busamed in supporting the emergence of a dynamic healthcare hospital group,” says Fihla.
According to Dr Diliza Mji, Busamed Chairman and Founder, “Busamed’s vision – prioritising care above profit – recognises that attracting and retaining leading medical professionals highly specialised in key or rare medical disciplines requires both assembling the technology, building the systems and acquiring the properties that allow medical professionals to innovate and flourish.”
“Driving inclusive growth and opportunity through the provision of innovative financial solutions is a priority for Standard Bank,” says Fihla.