In 1983 MediClinic International was founded by Dr Edwin Hertzog. He was commissioned by the then Rembrandt Group, which is now known as the Remgro Group to undertake a feasibility study to determine how profitable private hospitals could be. A mere three years down the line, MediClinic shares were listed for sale on the Johannesburg Stock Exchange (JSE) in South Africa. In 1986 the group already had three hospitals under construction and a further four in commission. Today the group’s head office is situated in Stellenbosch and prides itself on having deep operational expertise. The company does business in Switzerland and the United Arab Emirates (UAE), and also has roots in the UK through its minority stake in the Spire Healthcare Group.

Looking at the revenue basis of the enlarged group, it will soon be the third largest private healthcare provider in South Africa, the largest in the UAE and the largest private medical network in Switzerland.

The enlarged group will operate 73 hospitals with about 10 200 beds and 37 clinics, and nearly 32 000 employees. In 2006, MediClinic entered into an agreement to buy a controlling interest in Emirates Healthcare in Dubai, United Arab Emirates. In 2007, MediClinic went on to buy Hirslanden – the largest private hospital group in Switzerland. The group subsequently went on to purchase a 29.9% interest in Spire Healthcare, a UK-based private healthcare group.

In February 2016, MediClinic completed a big merger with Al Noor Hospitals. During the same period, the healthcare group officially started trading on the London Stock Exchange. MediClinic International was officially replaced by Al Noor Hospital Groups in the JSE/FTSE indices. Al Noor was later renamed to MediClinic International and will be the biggest private hospital group in the UAE.

MediClinic has established a dominant foothold in the South African private hospital market, and MediClinic share price has enjoyed a strong performance which reflects the company’s returns on capital investment, both locally and internationally. MediClinic focuses on putting science at the heart of its healthcare approach, providing facilities with international-standard technology, backed up by sound medical expertise and empathetic nursing staff. The company is aiming to buy further into the South African and international markets with the development of numerous new hospitals earmarked through its dedicated expansion programme.

MediClinic’s increasing reach on the global stage, and its partnerships with prominent private hospital groups, should stand it in good stead for the future. The
live online stocks chart shows that MediClinic share price has been wavering with the new acquisitions and the Al Noor merger, but is forecast to deliver strong returns once the full effect of these transactions takes place. MediClinic shares are therefore a good buy, particularly when considering expanding demand for healthcare in South Africa, the company’s biggest market.

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