The Bedford Gardens Hospital property formed part of Redefine's acquisition of the Fountainhead Property Trust portfolio in 2015 for R14 billion.
JSE-listed Life Healthcare has received the Competition Commission's backing to acquire the property housing its Bedford Gardens Hospital and Wingwood Place from listed property group Redefine.
The Commission said it had recommended that the Competition Tribunal approve the transaction without conditions, finding that it was unlikely to substantially lessen or prevent competition or raise significant public interest concerns.
The deal will see Life Healthcare Group, worth R17.3 billion on the local bourse, acquire the 144-bed Life Bedford Gardens Hospital property and a two-storey commercial office building, Wingwood Place, from Redefine. Although Redefine owns the Bedfordview properties, they are already leased to and operated by Life Healthcare.
The acquisition would bring the Bedford Gardens Hospital property into a group that operates 63 healthcare facilities across seven provinces, with a network of 3,000 specialists and healthcare professionals treating about 600,000 in-patients each year.
