AfroCentric seeks to invest in healthcare related businesses that demonstrate prospects for growth as well as diversify its revenue sources, while contributing to the sustainable health and welfare of South African communities.
AfroCentric is a black-owned investment holding company with an investment portfolio focused on services to the healthcare sector. AfroCentric was established in 2008 and is listed in the healthcare sector on the JSE.
The Group was founded on the core philosophy of transformation and empowerment, and is one of the few black-owned and controlled companies on the JSE. We are a level 2 B-BBEE rated company and the most empowered health-related business on the JSE.
Through its operating subsidiaries, AfroCentric provides health administration and health risk management solutions to the healthcare industry. It also provides a range of complementary services to its traditional medical scheme clients and a portfolio of healthcare-related enterprises. These services include information technology (“IT”) solutions; transactional switching; specialised disease management; back, neck and shoulder treatment; pharmaceutical wholesaling; and pharmaceutical courier distribution services.
AfroCentric seeks to invest in healthcare related businesses that demonstrate prospects for growth as well as diversify its revenue sources, while contributing to the sustainable health and welfare of South African communities. Medscheme is the Group’s largest subsidiary and is one of South Africa’s leading medical scheme administrators and health risk management providers. Medscheme is the largest manager of medical schemes with approximately 3.7 million lives under our management through our 19 client medical schemes in Southern Africa. It is the largest black-owned medical scheme administrator, with a national footprint of offices in South Africa, and 4 781 employees (including countries outside of South Africa).
INCREASING THE HEALTHCARE VALUE CHAIN
AfroCentric continues to provide the healthcare sector with practical strategies for expanding the membership of its medical scheme clients. New initiatives that enable us to further promote more efficient and effective patient care and treatment management include the Document Based Care (“DBC”) back and neck rehabilitation programme and pharmaceutical courier distribution services
On 1 August 2015, AfroCentric acquired a 100% interest in Pharmacy Direct, a courier pharmacy; 100% of Curasana, a pharmaceutical wholesaler; and a 26% stake in Activo Health, a Southern African distributor of generic medicines and complementary nutraceutical products. These acquisitions provided greater access to the wider healthcare delivery value chain and greater visibility in the relevant markets.
On 15 December 2015, Sanlam Life Insurance Limited (“Sanlam”), one of the country’s foremost financial institutions, concluded its acquisition of a 28.7% stake in ACT Healthcare Assets, a wholly owned subsidiary of the Group. In alignment with the Group’s growth strategy, this strategic alliance has enhanced the Group’s marketing and distribution initiatives and positioned certain divisions within the Group on an improved growth path.
Growth and diversification outside South Africa has always been a strategic imperative. We have a presence in Botswana, Namibia, Swaziland, Kenya, Zimbabwe and Mauritius.