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South African Healthcare Firm Umuthi Plans London Main Market Listing

Wed, 26th Aug 2020 10:44

(Alliance News) - Umuthi Healthcare Solutions PLC on Wednesday announced plans to list on the London Main Market.

Umuthi is a South Africa-based healthcare firm focused on the distribution of pharmaceuticals and provision of medical facilities in remote areas, mainly via its Lems business. It also offers medical insurance.

Following its London listing, Umuthi will aim to build further on the existing business of Lems.

Already Lems has signed purchase agreements with two established pharmaceutical manufacturers and has links with networks of doctors across South Africa.

Umuthi didn't disclose any details about its admission plans, including the date or the size of the initial public offering.

"We are delighted to announce the intended listing of Umuthi Healthcare Solutions on the London Stock Exchange, this is an important milestone for the Group. Access to medicines and healthcare services in remote areas has become an ever increasing issue which we are aiming to address," said Chief Executive Gert Viljoen.

"The current Covid-19 environment has created a greater need for our services and we are currently in detailed discussions to provide vitamins and supplements as well as sanitising services on a greater scale," Viljoen added.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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