SA firm snaps up MRI from BOMAID

Friday, November 22, 2024 | 700 Views |

Changing hands: MRI is the country’s largest emergency health service provider PIC: MRI

South African firm, Abovax, has expressed interest in acquiring a 60% stake in the country’s top medical services company, Medical Rescue International (MRI).

Competition and Consumer Authority (CCA) has acknowledged receipt of the merger bid, noting that upon the implementation of the proposed transaction, Abovax will have a controlling stake in MRI Botswana.

Currently, MRI is owned by Botswana Medical Aid (BOMAID), the Motor Vehicle Accident (MVA) Fund, and individuals. BOMAID through its investment arm, Southview holds the majority stake of MRI at 94%, whilst MVA Fund owns four percent and the individual shareholders account for the balance.

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