Deals
Life Healthcare Enters U.K. With $995 Million Alliance Deal
- South African hospital owner agrees to biggest-ever purchase
- Joins local rivals Mediclinic, Netcare in tapping U.K. demand
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Life Healthcare Group Holdings Ltd. agreed to buy diagnostics specialist Alliance Medical Group Ltd. for as much as 800 million pounds ($995 million) including debt as the South African company follows larger competitors by expanding into the U.K. market.
The Johannesburg-based owner of private hospitals agreed to pay 593 million pounds in cash and a performance-based additional payment, it said in a statement on Wednesday. The sellers are funds managed by M&G Investments, Talbot Hughes Mckillop LLP and senior management.