Sanlam has written down its investment in healthcare management group AfroCentric to nil after medical scheme Bonitas moved to end its relationship. Yet, the insurer insists there is still value to extract. The stake will stay. Sanlam CEO Paul Hanratty ruled out any sale. Sanlam owns 60% of AfroCentric, a holding it took three years ago and which has so…
Tag: healthcare
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Pharmaceutical Manufacturing Crisis Deepens
South Africa’s pharmaceutical manufacturing crisis is growing as local producers lose government contracts and contend with rising costs. Stavros Nicolaou, chair of Pharmaceuticals Made in South Africa, says the Department of Health’s procurement policy is undermining the government’s localisation ambitions. He notes that officials award contracts to companies labelled as local suppliers. However, some companies import finished medicines rather than…
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AfroCentric Results Show Revenue Surged Significantly
AfroCentric Investment Corporation has released its financial results for the year ending December. The JSE-listed healthcare giant reported a massive spike in revenue. However, the group also faced a significant basic loss. This was primarily due to heavy asset impairments and strategic business disposals. Massive Revenue Growth For AfroCentric The group’s continuing operations showed exceptional top-line growth. Total revenue climbed…
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Treasury Threatens Health Departments with Takeover
The National Treasury is poised to take drastic action against four provincial health departments, threatening a national takeover following reports of gross financial mismanagement and collapsing service delivery. Treasury will demand fiscal accountability from Health MECs in four key provinces. This forthcoming ultimatum forces KwaZulu-Natal, the Free State, Gauteng, and the Northern Cape to provide immediate recovery plans or yield…
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Medical Scheme Increases Amidst Regulatory Concerns
For millions of South Africans grappling with the rising cost of living, the announcement that medical scheme contribution increases for 2026 will largely remain within single digits offers a welcome reprieve. However, industry experts warn that these restrained figures mask a precarious financial reality. 2026 Medical Scheme Contribution Increases: Top 5 Open Schemes Medical SchemeWeighted Average IncreaseEffective DateKey NotesBestmed6.8%1 January…
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Lilly Hits $1 Trillion Valuation with Weight-Loss Success
In a historic milestone for the pharmaceutical industry, Eli Lilly surged to a market value of $1 trillion on Friday. It became the first drugmaker to join an exclusive club previously dominated by technology heavyweights. This event marked the moment Lilly hit a $1 trillion valuation. It highlighted the company’s rapid ascent as a global powerhouse in the weight-loss sector.…
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Life Healthcare Share Price Stumbles Following R2.9bn Liability Adjustment
The Life Healthcare share price took a significant knock in early trade yesterday, falling by as much as 9%. This happened after the hospital group released a trading statement detailing a multi-billion Rand adjustment to its financial liabilities. Investors reacted sharply to news that an R2.9bn adjustment related to the “Piramal liability” had heavily impacted profit from continuing operations. This…
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Childhood Hypertension Rates Nearly Double Globally
High blood pressure, a condition traditionally associated with adults, is rapidly becoming a major health crisis for the younger generation. New research published in The Lancet Child & Adolescent Health reveals that the worldwide prevalence of hypertension in children and adolescents under the age of 19 has almost doubled between 2000 and 2020. In 2000, approximately 3.2% of children had…
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Hetero Price Collusion Probe and Its Implications
The Competition Commission has confirmed it is actively investigating the South African subsidiary of the Indian generic drug manufacturer Hetero. They are looking into potential price collusion. This significant probe centres on the procurement of crucial HIV medication. Specifically, the combination pill tenofovir, lamivudine, and dolutegravir (TLD) is under review. Most HIV patients in the country take this three-in-one regimen.…
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Ascendis Health Exits JSE and Positions for Growth
Ascendis Health has confirmed its plan to delist from the JSE in the first week of December, following an overwhelming mandate from its investors. This decision marks the culmination of the company’s significant turnaround strategy. Not long ago, it faced the prospect of bankruptcy. A resounding 93% of the company’s shareholders voted in favour of the move. This provides CEO…
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Discovery and Google partner for Personalised Healthcare
Health and life insurer Discovery has announced a global partnership with Google, harnessing artificial intelligence to transform preventative healthcare. The initiative aims to provide individuals with highly personalised recommendations to improve their health, simultaneously helping to drive down the rising cost of insurance cover. The new platform, dubbed Vitality AI, combines the insurer’s extensive behavioural change expertise with Google Cloud’s…
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Health Funding Shortages Impacting HIV/AIDS Care
The National Treasury’s emergency allocation to South Africa’s health sector is dangerously insufficient. It is at high risk of being diverted to pay off massive provincial debts rather than fund essential services, Parliament heard on Wednesday. Health advocates warned the select committee on appropriations that the new funds fail to close the critical health funding gap. This gap was created…