Cerba, Lancet are said to agree Africa deal for $123m
Cerba HealthCare SAS, the French owner of a global network of medical laboratories, is expanding in Africa by buying some of Lancet Laboratories’ operations for as much as 12.5-billion Kenyan shillings ($123-million), said a person familiar with the matter.
Paris-based Cerba will hold a 51% stake in a joint venture with the South African company that will operate in 11 African countries, said the person who asked not to be identified because the information isn’t public.
Cerba announced on Thursday it started operations in Africa after forming a joint venture known as Cerba Lancet Africa with Lancet, without providing details about the deal. The agreement excludes Lancet’s biggest operations in South Africa, it said in a statement on its website.
Cerba Lancet plans to expand into several other African countries by partnering with local businesses, the company said in an emailed response to questions. The growth will be funded jointly by the two companies and bank financing, it said. Lancet didn’t immediately respond to an emailed request for comment.
The joint venture plans to begin operations in five French-speaking sub-Saharan African nations and Ethiopia by 2024, two people with knowledge of matter said. The continent has the worst healthcare in the world, according to the International Finance Corp., and investment of as much as $30-billion is required to meet demand.
Cerba is owned by Public Sector Pension Investment Board, a Canadian pension-fund manager, and Zurich-based investment-management firm Partners Group Holding.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation