CAPS Holdings empire crumbles

CAPS Holdings empire crumbles
Published: 07 March 2014

St Anne's Hospital, a subsidiary of pharmaceutical group Caps Holdings, could become a subject of a hostile takeover bid by "a suitor" said to be linked to its former landlord following the expiry of its lease agreement last month.

The 15-year lease agreement between St Anne's, one of the top private hospitals in Harare, and Little Company of Mary expired on February 28 but the latter has no intention to renew it.

Instead, the LCM said it would look for a new tenant willing to take over hospital operations.

This is despite the claims by Caps executive chairman Fred Mtanda that the lease agreement had a clause which allowed it to be extended by another 5 years.

St Anne's Hospital, originally run by the Little Company of Mary, an order of Roman Catholic nuns, was acquired in 2004 by Caps Holdings for about $8 mln.
- herald
Tags: Caps,


Latest News

Latest Published Reports

Latest jobs