S.Africa’s Life Healthcare to buy controlling stake in Britain’s Alliance Medical

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By TJ Strydom JOHANNESBURG (Reuters) – South Africa’s No. 3 private hospital firm Life Healthcare will acquire 95 percent of Britain’s Alliance Medical, it said on Wednesday, but its shares fell sharply over its plans for a rights issue. Seeking growth outside its home market, Life Healthcare will spend up to 10.4 billion rand ($727 million) in cash for the controlling stake in unlisted Alliance Medical, which also operates in Italy and Ireland. South African private healthcare providers, which also include Mediclinic International and Netcare, are in a race to expand by making acquisitions in more developed markets as an anti-trust inquiry has constrained growth at home.
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