South Africa: Summit Africa announces healthcare investment
Private equity firm Summit Africa has acquired 55% shareholding in St Mary’s Hospital in Mthatha.
** Grow your business in 2025 with Africa Private Equity News: Explore our advertising options **
Private equity firm Summit Africa has acquired 55% shareholding in St Mary’s Hospital in Mthatha, located in South Africa’s Eastern Cape province, from Life Healthcare Group.
Summit also has a majority interest in a healthcare management company Crestcare Hospital Group, which will manage St Mary’s Hospital.
Crestcare intends to transform St Mary’s into a key healthcare hub in the Eastern Cape.
Crestcare, a fast-growing private hospital group with facilities in Gauteng, Limpopo, Mpumalanga and the Western Cape, aims to expand to 800 beds in the next two years, focusing on peri-urban, rural and township areas.
Kit Wostenholm, chief executive Officer at Crestcare commented: “This first acquisition in the Eastern Cape holds transformative potential for both the hospital and the wider community. By investing in St Mary’s, we reaffirm our commitment to accessible, high-quality and affordable healthcare across South Africa. Our goal is to ensure people in Mthatha and surrounding areas have access to world-class care right at their doorstep.”
Ngange Nongogo, private equity partner and value add lead at Summit Africa said: “This acquisition aligns with our mission to strengthen healthcare in underserved regions. St Mary’s is a perfect fit for Crestcare’s strategic goals. The improvements to infrastructure, services and expertise will ensure high-quality care for Mthatha and beyond, without patients having to leave their community.”
Stay ahead in Africa's private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here