New chapter for Johann Rupert’s R103 billion investment giant in South Africa

Remgro CEO Jannie Durand said the firm’s move to take full control of Mediclinic’s Southern Africa operations marks a new chapter in the companies’ 43-year journey together.

He said the move reflects Remgro’s long-term confidence in the healthcare sector and the vital role it is set to play in South Africa’s future.

Durand’s comments come after Remgro’s complex deal with Luxembourg-based Investment Holding Limited (IHL) was completed on 1 July 2026.

Remgro, billionaire businessman Johann Rupert’s South African investment vehicle, first announced this deal to shareholders in December 2025.

At the time, the investment giant explained that it and IHL had decided to divide their shared stake in Mediclinic Holdings.

Previously, Remgro and IHL each held a 50% stake in the entire Mediclinic Holdings business.

Now, Remgro holds 100% of Mediclinic’s Southern Africa operations, while IHL owns 100% of the group’s Swiss operations.

After the deal was complete, Durand shared in a social media post that this marks another important chapter in Remgro’s journey with Mediclinic.

This journey started in 1983, when the Rupert family’s Rembrandt Group (which later split to become Remgro) commissioned a feasibility study on private healthcare in South Africa.

The study was undertaken by Dr Edwin Hertzog and eventually led to the founding of Mediclinic.

Remgro was Mediclinic’s largest anchor shareholder for decades, overseeing its expansion across South Africa, and into Switzerland and the Middle East.

A change came in 2022, when Remgro partnered with IHL, a subsidiary of global shipping giant Mediterranean Shipping Company.

Under this partnership, the two companies launched a joint buyout bid for the portions of Mediclinic they did not own yet.

By 2023, the consortium successfully acquired 100% of Mediclinic for around £3.7 billion (today, R80.32 billion)

This also led to Mediclinic being delisted from the London and Johannesburg Stock Exchanges.

Following the most recent deal between Remgro and IHL, each company owns 100% of Mediclinic’s respective regional businesses.

The future of healthcare in South Africa

When the deal was first announced, Remgro told shareholders that each company taking sole ownership of their respective region made the most sense.

This is because it will allow each company to tailor their strategies to better align with regional market dynamics.

Durand echoed these comments, saying this move reflects Remgro’s long-term confidence in healthcare as a sector that will continue to play a vital role in South Africa’s future.

“Throughout our history, we have believed that enduring value is created by partnering with exceptional businesses, backing capable management teams, and taking a long-term view when others are focused on shorter horizons,” he said. 

“Mediclinic embodies those qualities. It is a resilient business with a strong management team, deeply committed clinical staff and partner doctors, and an important role to play in strengthening healthcare across our region.”

He pointed out that, since Remgro first invested in Mediclinic in 1983, the company has grown to become one of Southern Africa’s leading private healthcare groups.

He said Mediclinic now serves millions of patients and supports thousands of healthcare professionals every year.

“As custodians of this investment, our responsibility is not simply to preserve what has been built, but to support Mediclinic as it continues to evolve,” he said. 

“Healthcare is changing rapidly, driven by advances in technology, changing patient expectations and growing demand. We look forward to supporting the business as it navigates that future.”

Some analysts believe that the deal could also unlock significant value for Remgro.

For example, All Weather Capital’s deputy chief investment officer, Saneliswe Tofile, recently selected Remgro as his stock pick in an interview with BusinessDay TV.

He commended the company for all the work it has put into restructuring its portfolio, which now consists mainly of unlisted entities.

He was also optimistic about Remgro’s substantial cash reserves, noting that the company received a net cash amount from the Mediclinic deal.

Initially, it was expected that both Remgro and IHL would pay $950 million (R15.61 billion) for their respective acquisitions.

However, following leakages and accruals that occurred between the transaction’s announcement and now, Remgro ended up paying $947 million (R15.56 billion), while IHL paid $1.08 billion (R17.74 billion).

“We do think that they’ve done a lot of good work restructuring the portfolio, and there are some good assets in there as well,” Tofile said.

“You’ve got the likes of Mediclinic, the CIVH fibre asset, you’ve got Heineken, which is a good beverage business, and a few other things in there.”