Mediclinic CEO Says Spire Exit Allows Greater Push to Diversify

Mediclinic International Plc’s plans to broaden its focus beyond hospital operations got a boost from an offer for its stake in Spire Healthcare Group Plc.

Selling its almost 30% stake in Spire, the private U.K. hospital group, to Ramsay Health Care Ltd. for about $400 million will allow Mediclinic to grow its existing businesses in South Africa, Switzerland and the United Arab Emirates and to consider takeovers, according to Chief Executive Officer Ronnie van der Merwe. The stock rose as much as 13% in London trading to the highest level in more than a year.

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