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MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Life Healthcare Group Holdings Limited    LHC   ZAE000145892

LIFE HEALTHCARE GROUP HOLDINGS LIMITED

(LHC)
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LHC: LIFE HEALTHCARE GROUP HOLDINGS LIMITED - Chief Executive Officer steps down, Pieter van der Westhuizen appointed acting CEO

01/17/2020 | 03:34am EST
LHC: LIFE HEALTHCARE GROUP HOLDINGS LIMITED - Chief Executive Officer steps down, Pieter van der Westhuizen appointed acting CEO Chief Executive Officer steps down, Pieter van der Westhuizen appointed acting CEO Life Healthcare Group Holdings Limited Incorporated in the Republic of South Africa Registration Number: 2003/002733/06 ISIN: ZAE000145892 Share Code: LHC ("Life Healthcare" or the "Company" or "the Group") CHIEF EXECUTIVE OFFICER STEPS DOWN, PIETER VAN DER WESTHUIZEN APPOINTED ACTING CEO In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, the board of directors ("the Board") hereby notifies its shareholders that Dr Shrey Viranna will be stepping down as Group chief executive officer ("CEO") and as an executive director of the Board of Life Healthcare and its related subsidiaries, with immediate effect. Dr Viranna is emigrating to Australia for personal and family reasons. Pieter van der Westhuizen, the current Group chief financial officer ("CFO") has been appointed acting Group CEO, with immediate effect. Pieter will also retain his role as CFO, supported by the Company´s highly capable finance function. Pieter has been with Life Healthcare for 20 years, the last five as Group CFO. Dr Viranna will remain with the Company as a special advisor until 29 February 2020 to provide continuity and to ensure a smooth and managed transition. The Chairman of the Board, Mustaq Brey, said: "Pieter has vast experience of the industry and Life Healthcare and, having also previously acted as CEO, will provide immediate strategic, operational and leadership continuity for the business as we start the new year." Expressing his regret at Dr Viranna´s departure, Brey said: "Shrey joined the Company in February 2018, and, during his tenure, has displayed impeccable leadership, together with strong industry insight and stakeholder interaction. Shrey has put in place an experienced and capable executive management team, who, together with the business management teams, remains committed to the strategy of continuing to deliver a robust, sustainable long- term business. We appreciate that Shrey has made a very personal family decision and we respect that. Shrey has indicated that he would be available to assist us in future, if required. On behalf of the Board, and the Company, I thank Shrey for his invaluable contribution to Life Healthcare and wish him all the very best in his future endeavors as he embarks on this next phase of his personal journey." Shrey Viranna said: "I have been privileged to lead the Company for the past two years. Together with the encouragement of the Board and the unwavering support of the executive management team, we have taken critical steps to transform the business, making decisions to ensure the Group´s sustainability, and long-term success. My departure is a difficult but very personal decision, and I leave the Company with great sadness. I thank the staff and our doctors for their hard work and dedication and wish Life Healthcare every success." Pieter van der Westhuizen said: "We will continue delivering on our 2025 strategy with its unwavering focus on our patients, people, clinical quality and building an analytics-led, technologically enabled Group across all markets. I look forward to continuing working with the Board and our management teams to ensure a smooth transition." The Board has embarked on a process to identify a suitable successor and shareholders will be kept updated, as required. Illovo 17 January 2020 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 17-01-2020 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

Disclaimer

Life Healthcare Group Holdings Limited published this content on 17 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2020 08:33:01 UTC


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Financials
Sales 2020 25 239 M 1 653 M 1 653 M
Net income 2020 1 005 M 65,8 M 65,8 M
Net Debt 2020 11 861 M 777 M 777 M
P/E ratio 2020 23,5x
Yield 2020 -
Capitalization 23 636 M 1 549 M 1 548 M
EV / Sales 2020 1,41x
EV / Sales 2021 1,25x
Nbr of Employees 20 436
Free-Float 77,7%
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 20,52 ZAR
Last Close Price 16,25 ZAR
Spread / Highest target 35,4%
Spread / Average Target 26,3%
Spread / Lowest Target 13,8%
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Managers
NameTitle
Peter G. Wharton-Hood Group Chief Executive Officer & Executive Director
Mustaq Ahmed Enus-Brey Chairman
Tanya Little Group Executive-Operations, Integration & People
Pieter P. van der Westhuizen Chief Financial Officer & Executive Director
Steve Taylor Group Executive-Medical
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