RH Bophelo Limited (“RH Bophelo” or “the Company”) listed on the Johannesburg Stock Exchange (JSE) as a Special Purpose Acquisition Company (SPAC) in July 2017. We raised funds in excess of R500 million and the listing allowed the Company to access the initial capital required to start operating.
The listing opened doors for the general public to acquire shares in a fully black-owned and entirely African healthcare company, that offers growth and immediate returns in a defensive asset class.
The Directors and the management team have significant experience in the healthcare sector and are well positioned in the market to implement the Company’s strategy and vision.
The Company invests in hospitals where it can improve the facilities and increase access to quality healthcare services, while also creating an ecosystem designed to optimise synergies that deliver value to those in the lower to middle income bracket across South Africa.
The capital raised was used to acquire already operational healthcare infrastructure, invest in brownfield projects, which are no more than one year from positive cashflow, as well as independent hospitals in peri-urban areas or those that are strategically located to enhance the Company’s mandate.
RH Bophelo acquired its first viable assets with investments into Africa Healthcare Proprietary Limited (AHC), Vryburg Private Hospital (VPH) and Rondebosch Medical Centre Proprietary Limited (RMC).
- South African healthcare requires more innovation.
- Private healthcare in South Africa is expensive.
- Our public healthcare infrastructure is overcrowded.
- Many healthcare institutions servicing remote areas across South Africa lack the necessary capacity required to function at their best.
- There is a lower to middle income market which cannot afford private healthcare at the current rates, however, they are willing to pay for quality healthcare at a reasonable price.
- RH Bophelo identified an opportunity to provide South Africans with affordable private healthcare.
- On 12 July 2017, RH Bophelo listed as a SPAC on the JSE.
- A SPAC has 24 Months in which to execute its initial transaction.
- RH Bophelo has exceeded all projections by transacting within four months with two acquisitions: VPH and AHC on 20 November 2017.
- On 14 May 2018, RH Bophelo entered into an agreement for the acquisition of 30% of the equity in RMC.