Emirati, South African hospital firms to combine operations

AP News
Posted: Oct 14, 2015 5:48 AM

DUBAI, United Arab Emirates (AP) — An Emirati hospital operator is combining with South Africa's Mediclinic International to create a new health care company operating more than 70 hospitals on three continents.

Mediclinic and Abu Dhabi-based Al Noor Hospitals Group said the deal Wednesday will create the UAE's biggest private health care provider, the third largest in South Africa, and will operate Switzerland's biggest private medical network.

Mediclinic investors will get 0.625 shares in the new company for each share now plus an interim dividend. Al Noor shareholders will get a special dividend of 3.28 British pounds ($5.02) or can sell their shares back for 11.6 pounds apiece.

The new company will be called Mediclinic International. Its shares will trade on the London Stock Exchange and will have secondary listings in Johannesburg and possibly Namibia.