Thursday , July 19 2018

Life Healthcare weighs sale of Indian hospital chain stake

Bloomberg

Life Healthcare Group Holdings Ltd., the second-largest private hospital owner in South Africa, is considering a sale of its stake in India’s Max Healthcare
Ltd., people with knowledge of the
matter said.
The Johannesburg-based company is working with Barclays Plc to explore potential interest in its holding in Max Healthcare, which is one of India’s largest private hospital chains, the people said. Life Healthcare and Mumbai-listed Max India Ltd. each own
49.7 percent of the Indian firm, company filings show. Life Healthcare could seek about $406 million for its stake, one of the people said, asking not to
be identified.
The stake has drawn initial interest from private equity firms. Deliberations are at an early stage, and Life Healthcare could decide to remain invested in the company, according to the people.
Representatives for Life Healthcare and Max India didn’t respond to requests for comment. A representative for Barclays declined to comment.
Life Healthcare has invested a total of 2.9 billion rand in Max Healthcare, according to the firm’s annual report.

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