Private hospital group, Life Healthcare has received an offer for Scanmed, its private healthcare and medical services business in Poland but it will have to sell it at a much lower price than what it was valued two months ago.
Last week, the Johannesburg headquartered company said a slowdown in the Polish healthcare economy, which was partly a result of the impact of Covid-19, had led to a R160 million impairment of the business. The group then impaired it further, resulting in its initial carrying value of R1.6 billion on 30 September to drop to R840 million.
In a trading statement on Monday, the group said the final write down was done to “...reflect the value of the offer”.
“The group is in negotiations on the offer and is expecting to finalise the disposal of Scanmed after successful conclusion of the related agreements,” said Life Healthcare in a statement on Monday.
Life Healthcare also owns Alliance Medical a diagnostics services company in the UK.