National HealthCare Group poised to make a meaningful contribution in SA healthcare sectorInvenfin, the venture capital arm of Remgro Limited, announced its acquisition of a meaningful minority stake in National HealthCare Group.
National HealthCare is also backed by leading businessman Dr Patrice Motsepe’s African Rainbow Capital (ARC).
According to Dr Motsepe, Chairperson of ARC, which also owns the leading digital bank TymeBank and is a significant minority shareholder in the mobile data provider Rain: “ARC has always viewed its investment in National HealthCare Group as one of the best examples of combining technology, healthcare expertise and constructive cooperation to deliver affordable quality healthcare to all South Africans.
“Broadening and increasing access to healthcare for all our people is essential not only for their health and wellbeing but also for the development and growth of our economy. I believe that our investment in National HealthCare Group provides us with such an option and that is why we have invested in the company. We are delighted that the Remgro Group has joined us on this journey,” Motsepe said.
Since being founded in 2017 by Dr Reinder Nauta, National HealthCare Group has made its mark in the South African healthcare industry with a series of groundbreaking primary healthcare solutions introduced to the low-cost segment of the healthcare market. Earlier this year, the company slashed the cost of primary healthcare cover dramatically with the introduction of an innovative service using mobile communications and chat commerce, which was launched at the height of the COVID-19 pandemic in May, driving healthcare accessibility at a time of considerable need.
Commenting on the announcement Stuart Gast, Invenfin’s CEO, said the company is very pleased to have closed this investment into National HealthCare during the lockdown. “The company fits our focus of investing into strong teams building businesses with very big plans. South Africa is facing many social challenges, so we are excited to be partnering with National HealthCare indirectly addressing a critical one -making primary healthcare more accessible to all employees, especially in the aftermath of this pandemic. National HealthCare has an impressive, experienced team with a visionary leader, and we look forward to playing our part in the next phase of its development. As a young company, National HealthCare has achieved meaningful early market traction and we believe it is poised to scale significantly.”
Jannie Durand, Chief Executive Officer of Remgro, noted that given the investment by Invenfin, National HealthCare Group is well positioned to make a tangible difference in the primary healthcare sector while further fulfilling the need for access o healthcare for more South Africans.
“Since the arrival of COVID-19, healthcare is being rightfully recognised as fundamental to the wellbeing of our nation and its people. We believe that it is the ability to respond to the increased demand by employers and medical schemes to lower healthcare costs, while broadening access to healthcare services, that will make the difference needed, not only in the healthcare sector but also in the greater South African economy.”
Dr Reinder Nauta, Chairman of National HealthCare Group, said the endorsement by two of South Africa’s leading investment holding companies was most affirming, describing the developments as “a strong vote of confidence in the future of healthcare in our country”.
“The fact that both ARC and Invenfin have thrown their weight behind the National HealthCare Group and our planned future healthcare initiatives, speaks volumes about their commitment to the country and its people.
“This investment in healthcare is not only indicative of a shift on the part of big business towards ensuring that employee health and wellness is prioritised, but also demonstrates confidence in the future of business, post-lockdown.
“Without doubt, a robust and well-functioning primary healthcare system is more important than ever in today’s rapidly evolving world. There has never been a more critical time to broaden access to healthcare,” notes Dr Nauta.
“What is needed right now are consummate leaders who will understand the importance of offering employees efficient health cover during these challenging times. Not only will it stand businesses in good stead by improving productivity and strengthening the bottom line, but it has considerable value in terms of building morale and good labour relations.’
“At National HealthCare we have experienced an evolution in our business model, in that we have matured from a primary care management model to a more sophisticated full risk transfer model. There is no time to be lost. Now is the time to strengthen access to primary healthcare while supporting doctors to help stabilise a healthcare system and an economy that is being profoundly shaken by this pandemic,” Dr Nauta concludes.
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