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NTC
NTC
NTC - Netcare - Netcare announces the appointment of a new chief
executive for its UK subsidiary GHG
NETWORK HEALTHCARE HOLDINGS LIMITED
(Registration number 1996/008242/06)
Code: NTC
ISIN number: ZAE000011953
("Netcare" or "the Group")
Netcare announces the appointment of a new Chief Executive for its UK
subsidiary GHG
Netcare announces that Adrian Fawcett has been appointed Chief Executive
of General Healthcare Group ("GHG"), Netcare`s 52.6% held subsidiary, the
leading independent private healthcare provider in the UK.
Mr Fawcett will join GHG on 30 April 2007 and will initially be working
with Richard Friedland, Netcare`s Group Chief Executive Officer, who has
been acting as CEO of GHG in the interim.
Mr Fawcett has an MBA from Cardiff Business School and a B.Sc in
Economics from University of Wales, Cardiff. During his career he has
held a number of senior management positions, including Corporate Vice
President of Interbrew, Group Managing Director of Bass Brewers and
Divisional Director at Mars Confectionery.
Before joining GHG, Mr Fawcett spent three and a half years as Chief
Operating Officer for Punch Taverns, the UK`s largest pub leisure
company. There he demonstrated success in strategic developments and
leadership as the company`s market value grew from GBP600 million to
GBP3,1 billion.
In February 2007, Netcare was awarded Dealmaker of the year award for
2006 in South Africa, for its acquisition of GHG.
Sandton
13 March 2007
Sponsor: Merrill Lynch South Africa (Pty) Ltd
About Netcare (www.netcare.co.za)
Network Healthcare Holdings Limited, an investment holding company listed
on the JSE Limited, South Africa, operates through its subsidiaries the
largest private hospital networks in South Africa and the United Kingdom.
As of 30 September 2006, the group managed 120 private hospitals and
clinics, equipped with more than 11 700 beds. The group had consolidated
revenue of R11 616 million (GBP799 million) and operating profit of R1
568 million (GBP108 million) for the year ended 30 September 2006. The
group had total assets of R50 501 million (GBP3 476 billion) and a market
capitalisation of R22 056 million (GBP1 518 million) as of 30 September
2006.
In 2002 Netcare entered the United Kingdom market to provide specialised
healthcare services on contract to the National Health Service ("NHS").
In May 2006 Netcare acquired a controlling 52.6% interest in General
Healthcare Group ("GHG"). GHG owns BMI Healthcare, the largest private
acute care hospital provider in the United Kingdom, operating 49 acute
care private patient hospitals with over 2 400 beds.
Date: 13/03/2007 16:54:01 Produced by the JSE SENS Department.
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