Invenfin acquires stake in National HealthCare Group
Healthcare innovator gets backing of two investment holding companies.
On 14 October 2020, Invenfin, the venture capital arm of Remgro, announced its acquisition of a meaningful minority stake in National HealthCare Group.
Since being founded in 2017 by Dr Reinder Nauta, National HealthCare Group has had an impact on the South African healthcare industry with a series of ground-breaking primary healthcare solutions targeted at the low-cost segment of the healthcare market.
African Rainbow Capital (ARC) has also invested in National HealthCare and according to chairperson Dr Patrice Motsepe, “ARC has always viewed its investment in National HealthCare Group as one of the best examples of combining technology, healthcare expertise and constructive co-operation to deliver affordable quality healthcare to all South Africans.”
Jannie Durand, chief executive officer of Remgro, said the investment by Invenfin positions National HealthCare Group to make a quantifiable difference in the primary healthcare sector while further addressing the need for access to 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,” Jannie said.
In May the company introduced an innovative service using mobile communications and chat commerce, supporting increased access to healthcare at a time of great need.
Dr Reinder said the support of two of South Africa’s leading investment holding companies was encouraging, describing the developments as “a strong vote of confidence in the future of healthcare in our country”.
He added that:
“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.”
Stuart Gast (pictured), Invenfin’s CEO, said they were very pleased to have closed this investment into National HealthCare during 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 in directly addressing a critical one – making primary healthcare more accessible to all employees, especially in the aftermath of this pandemic.”