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: Medical Scheme Administration
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Medscheme Bonitas Court Bid Withdrawal Clears CMS Probe
Medscheme has withdrawn its legal application against Bonitas Medical Fund. The decision clears the way for the Council for Medical Schemes (CMS) to continue a forensic investigation into disputed procurement processes. The legal action concerned contracts for medical scheme administration, managed care, marketing and sales distribution. Medscheme claimed to have evidence of significant irregularities in tender processes involving Bonitas’s BonCap…