The purchase forms part of the organisation’s intention to align executive interest with that of shareholders.
Megandra Naidoo, SA CFO of Life Healthcare Group, will be purchasing R3 million in company securities.
This was announced via a SENS announcement yesterday, which stated that the move was part of the organisation’s intention to align executive interest with that of shareholders.
According to the statement, Life Healthcare will match the purchase by buying shares to the value of R4.5 million. The matched shares will be restricted and vest annually in equal tranches from July 2024 to 2026.
Life Healthcare is the second largest private hospital operator in South Africa, with just over 9,000 beds. It also manages just over 3,000 beds at Life Esidimeni, a public-private partnership where the Life Healthcare looks after state patients who have long-term healthcare needs.
Megandra holds a CA(SA) qualification and has 18 years’ experience in accounting and auditing across industries such as healthcare, mining, energy and manufacturing.
He has held various leadership positions at PwC and was appointed CFO SA designate at Life Healthcare in June 2019. He took on the role of CFO SA in December 2019.
