38-year-old company in South Africa sold to an investment giant
Medhold has entered a new phase of growth following Sanlam Private Equity’s acquisition of a majority stake.
Medhold was founded in 1988 and has delivered medical devices, technology, and software across Southern Africa.
Its medical devices and hospital equipment include orthopaedic, diagnostic, theatre, intensive care, and robotic-assisted surgical systems.
The company provides end-to-end services, including product supply, installation, clinical training and after-sales support.
The company’s markets include South Africa, Namibia, Zambia, Zimbabwe and Botswana.
With Sanlam Private Equity’s new ownership, Medhold plans to expand its product portfolio, reach additional healthcare providers, and continue its focus on employee development and socially responsible initiatives.
This includes training programs, learnerships, and donations to public healthcare facilities.
“As private equity investors, we know that we are uniquely placed to drive real economic change,” said Paul Moeketsi, Managing Partner at Sanlam Private Equity.
“The philosophy is simple: back resilient businesses that create sustainable value, while also strengthening the country’s social and economic fabric. Medhold is one such business.”
The new era follows a partnership between Old Mutual Private Equity (OMPE), which acquired a 50% stake in the company in 2018, and is now selling it to Sanlam Private Equity.
OMPE supported Medhold’s expansion, operational strengthening and positioning as a key distributor in the Southern African healthcare market.
“Transactions such as this can help formalise, professionalise and scale mid-market companies, like Medhold, which are the backbone of the South African economy,” said Sanlam Private Equity Investment Principal Brandon Subrayan.
“This creates better-run businesses with strong governance structures, stronger supply chains, and more inclusive employment. It also fosters innovation in sectors like healthcare, technology and education.”
“We are looking forward to being a part of the transformation in healthcare and the innovation that will make a difference in South Africa, and beyond.”
OMPE selling businesses
The sale of its stake in Medhold follows another major sale by OMPE, which sold its 10X Investments stake to its affiliate, Old Mutual Wealth.
The Competition Tribunal has unconditionally approved the merger, where Old Mutual Wealth buys 10X Investments from Old Mutual Private Equity (OMPE) and DiGame Investments.
10X is a South African asset manager that provides investment and savings management services, including retirement services and tax-free savings products.
Old Mutual Wealth is acquiring a majority stake in OMPE and DiGame Investments for R2.2 billion, with 10X’s management holding a significant stake in the business.
“Our thesis was to move the needle on retirement outcomes by lowering fees, simplifying choices and using technology at scale,” said Jacci Myburgh, Co-Head at Old Mutual Private Equity, when the deal was announced.
The company scaled quickly in the ten years after it was acquired by OMPE and DiGame in 2014, with assets under management rising to over R65 billion.
10X now services over 60,000 clients and has a market-leading position in net flows into passive products, ETFs, and innovative beta products.
10X also moved into the direct-to-consumer market following its acquisition of CoreShares in December 2022.
As per the deal, 10X will operate and retain its independent structure and brand going forward, while working closely with Old Mutual Wealth to create immediate value.
Loading ...