Netcare turns to own power

Picture: Supplied.

Picture: Supplied.

Healthcare group Netcare says it has secured R500 million in funding for its long-term strategy to mitigate Eskom’s ongoing power interruptions.

Netcare anticipates cumulative savings of R1 billion on electricity costs over 10 years as a result of the strategy, CEO Dr Richard Friedlander said yesterday.

The seven-year facility from Nedbank Corporate Banking and the French Development Agency would fund a range of energy-efficiency and renewable-energy projects, Friedlander said.

The Netcare share price rose by 5.73% to R35.60 on the back of its annual results yesterday. The group announced a 16.1% increase in group revenue to R31.7 billion and a 19.1% increase in normalised profit before tax to R2.8 billion.

South African operations performed well, with a 7.4% increase in revenue and 15.6% increase in operating profit.

The division added 89 new beds and converted 65 under-used beds to differend disciplines. The total number of registered beds at year end increased to 9 424.

The SA Primary Care division, comprising Medicross family medical and dental centres and Prime Cure clinics, managed over 3 million patient visits, Friedlander said. He added Netcare had made submissions to the Competition Commission, which has launched an inquiry into the functioning of South Africa’s private healthcare market.




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