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Corporate profile Netcare Limited (Netcare) is an investment holding company that owns and manages and through its subsidiaries operates the largest private hospital networks in South Africa and the United Kingdom. Netcare was founded in 1994 and listed on the JSE Limited, South Africa, on 4 December 1996 with six hospitals. Since 1996 several other small and independent hospital groups in South Africa were acquired, notably Clinic Holdings Limited and Excel Medical Holdings Limited. During fiscal 2001 Netcare acquired Medicross, a managed health provider network of medical and dental centres across South Africa with pharmacies. In January 2006 Medicross acquired Prime Cure Holdings, a provider of primary care services for the emerging market, now with clinics. Medicross and Prime Cure form Netcare's Primary Care division with a total network of 3 300 registered doctors at the time and 177 400 managed care lives. In 2001 Netcare entered the international market space through the United Kingdom to provide specialised healthcare services on contract to the government's National Health Service (NHS). In May 2006 Netcare acquired a controlling 50,1% interest in General Healthcare Group (GHG). GHG owns BMI Healthcare, the largest private acute care hospital provider in the United Kingdom and is UK's No.1 independent healthcare provider. In August 2006 Netcare UK merged with GHG's NHS service provider business, Amicus, to operate as a single service provider under GHG. The other equity partners in GHG are Apax Partners Worldwide LLP (31,7%), London and Regional Properties Limited (7,4%), Brockton Capital LLP (3,0%) and management (7,8%). GHG owns BMI Healthcare, the largest private acute care hospital provider in the United Kingdom. At 30 September 2007, Netcare had 1 841 067 937 shares in issue, of which 340 354 743 were treasury shares held by a subsidiary. Of the residual 1 500 713 194 voting shares, 17,3% was owned by BEE shareholders. These include the HPFL BEE 160 million shares and the Netcare Trust shares of 95 947 700 which are accounted for as treasury shares, resulting in net shares in issue after all treasury shares of 1 244 765 494. On 1 October 2007, Netcare acquired the remaining 56,25% of Community Hospital Group, a majority black owned entity operating five hospitals in South Africa with 682 registered beds. In February and March 2007 Netcare opened two new hospitals, Alberlito (100 beds) and Blaauwberg (119 beds) while in January 2008 acquiring Linkwood Clinic which specialises in obstetrics and ophthalmology, adding 33 beds. During 2008, in the UK the Group also acquired 7 Nuffield hospitals (251 beds), The Oxford clinic (22 beds), the Woodlands hospital in Darlington (38 beds) and the City Medical consulting suites in London. The group also added the Fitzroy Square hospital in London acquired in April 2009. In the UK, the group also opened the country's first 24/7 private emergency care unit and introduced the renal dialysis services. In January 2009 Netcare repurchased and cancelled 436 million treasury shares.This is made up of 95 947 700 (5.16% of the issued share capital) which were previously held in the Netcare Trust and 340 354 743 (18.3% of the issued share capital) which were held by Netpartner. March 2009 saw a conclusion of the sale of Netcare's 50% interest in the Ampath Holdings Trust, a consortium of pathologists. Netcare is also involved in Public Private Partnerships, which include the following:

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Bloemfontein ­ opened in 2003 with 270 beds.The Bloemfontein PPP also has a Level-1 trauma unit which became operational in 2006.This PPP is a co-location of public and private facilities at Pelonomi and Universitas hospitals; The Eastern Cape ­ Port Alfred hospital opened in March 2009 with 90 beds (32 private) and Settlers hospital (Grahamstown) opened in August 2009 with 251 beds (32 private); and Lesotho PPP ­ a partnership with the Lesotho government.The Lesotho project, a 425-bed hospital with a gateway clinic and 3 referral clinics, is a Public Private Finance initiative with the Lesotho government, the International Finance Corporation, the World Bank and the Development Bank of Southern Africa. The 3 referral clinics started operating in May 2010 while the hospital and the gateway clinic will commence operations in 2011.

South African operations The Netcare hospital division operates the largest private hospital group across South Africa consisting of 54 hospitals with 8 843 registered beds. Netcare's services in South Africa comprise a mix of services which include but not limited to acute-care, high-tech hospitals and same-day surgical units. Many of the hospitals are equipped with accident and emergency units and retail pharmacies located at the hospitals. In partnership with Woolworths we trialled 3 in-store retail pharmacies, two in Johannesburg and one in Cape Town. The pilot project was concluded in May 2010. In addition to the Oncology and other joint ventures the hospital division includes the contribution from a 50% joint venture with Adcock Ingram in National Renal Care (NRC), a private dialysis therapy provider that has a national network of units treating chronic dialysis patients. In keeping with South Africa's increasing demand for healthcare, we are building a 125-bed hospital in Midrand (the Waterfall Hospital) construction of which commenced in September 2009.

Netcare offers trauma services through Netcare 911, the leading private emergency

service in South Africa. Netcare 911 has a network of 169 emergency vehicles and 70 rapid response vehicles, three helicopters and two fixed-wing air ambulances. These vehicles are fully equipped with satellite vehicle tracking and laptop devices and are crewed by Advanced Life Support Paramedics for any medical emergency. Netcare 911 provides prehospital risk management emergency medical services to a wide base of the South African and African population through its operational bases across the country. In addition, medical staffing solutions are provided to remote sites in approximately 13 countries around the world for large mining, construction and oil companies. Netcare 911 also offers a range of innovative products such as specialised travel advice, trauma support, Healthon- Line, capitation arrangements with medical schemes, and fund management for medical schemes and corporate clients. Our 24-hour Emergency Operations Centre is the hub of our network and is staffed with trained Emergency Call and Resource Coordinators able to manage pre-hospital emergencies. Our Aeromedical division offers services to a large number of insured clients based in SA, the rest of Africa, as well as internationally. As part of its commitment to skills development and to mitigate the scarcity of the paramedics in the country, Netcare 911 operates the largest private emergency medical services training centre in Africa. The school of Emergency and Critical Care is led by a

dynamic team of experienced instructors and academics in the field of emergency medical services and is accredited by the Health Professional Council of SA.

The group's Primary Care division provides primary healthcare and managed care services

through Medicross centres and Prime Cure clinics and retail pharmacies. Our contracted provider network has enabled medical schemes to offer benefit options to the previously uninsured lives, from primary to full risk cover. This has been vital in extending access to affordable quality healthcare to lower income groups. Medicross and Prime Care Medicentres, as the largest national network of private primary care clinics, deliver high volume quality primary healthcare in urban and peri-urban settings. A countrywide group of 677 independent doctors and dentists provide comprehensive primary health services to about 3,5 million patients funded through private medical aid insurance, managed care capitation premiums or self pay arrangements. Prime Cure has extensive experience in both clinical risk management and primary care service delivery. This positions the organization well as a strong partner in primary healthcare delivery as envisioned in the government's programme of action for health reform. The Prime Cure managed care organization manages a large number of capitated lives across most major medical scheme options ranging from primary to full risk options. United Kingdom operations

In the United Kingdom (UK) Netcare operates private hospital services through BMI

Healthcare (BMI), the largest private acute care hospital provider in the UK. The group has 58 acute care private patient hospitals with 2 894 registered beds, 152 operating theatres and 37 pharmacies across the UK. BMI provides a comprehensive range of medical and surgical procedures. Our medical specialties include orthopaedics, general surgery, oncology, gynaecology and urology. General Healthcare Group also provides NHS services through Netcare UK, an established independent service provider to the NHS, operating two surgical centres, mobile ophthalmic units, a diagnostic centre and a commuter walk-in centre. BMI also has the Nottingham primary care centre which services include diagnostics, outpatient services and specialist services. In partnership with Nottingham emergency medical services, the centre offers a walk-in service and NHS GP services. GHG has strengthened its position as the leading private healthcare provider in the UK by broadening its geographical coverage and improving its performance through various acquisitions. In 2008 the Group acquired 7 of Nuffield's private not-for-profit hospitals adding 251 beds. Further acquisitions include the Oxford Clinic (22 beds), a specialist musculoskeletal hospital. In October 2008, GHG acquired the Thornbury Radiosurgery Centre in Sheffield, City Medical in Central London and Woodlands Hospital in Darlington (38 beds). The Thornbury Radiosurgery Centre is a joint venture between GHG and the Centre's consultants. It provides cutting edge non-invasive brain surgery for a range of conditions. City Medical is a consultation and general surgery centre serving as a satellite unit to GHG's London hospitals. In April 2009, Fitzroy Square Hospital (previously St Luke's Hospital) in Central London was acquired. Almost 90% of the UK population now lives less than an hour

from a BMI facility and we are beginning to see the real benefits of our national coverage and scale. In December 2009, the Netcare partners in GHG gave notification of intent to prepare for a possible IPO and listing on the London Stock Exchange of the operating division of GHG. For more detail on this please go to the link for SENS announcements (dated 8 December 2009). During the 2010 year GHG added a consulting and diagnostic centre on Harley Street in London, Weymouth Street Clinic and Phoenix Hospital at Southend. In addition, in June GHG acquired a 42.5% in Transform, UK's leading cosmetic surgery company and also acquired four Abbey hospitals, i.e. Carrick Glen Hospital ­ Ayr; Gisburne Park Hospital ­ Lancashire; Sefto Hospital ­ Liverpool and King's Park Hospital ­ Stirling.

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