A person familiar with the matter told BusinessDay South Africa that Cebra HealthCare, the French owner of a global network of medical laboratories, is expanding in Africa by buying some of Lancet Laboratories’ operations for $123 million.
Cerba will hold a 51% stake in a joint venture with Lancet, a South African company that will operate in 11 African countries. The Paris-based company revealed that it started operations in Africa after forming a joint venture known as Cerba Lancet Africa with Lancet.
The company failed to give details of the deal, but said the agreement excludes Lancet’s biggest operations in South Africa.
The joint venture, Cerba Lancet, plans to expand into several other African markets by partnering with local businesses. The growth will be funded jointly by the two companies and bank financing.
Two people with knowledge of the matter noted that the joint venture plans to begin operations in five French-speaking sub-Saharan African countries and Ethiopia by 2024.
Cerba is owned by Public Sector Pension Investment Board, a Canadian pension fund manager, and Zurich-based investment-management firm Partners Group Holding.