African Medical to shift focus to private hospitals and Well Woman clinics

African Medical Investments (LON:AMEI) said it has ended the management contract covering its medical and vaccination centre at Johannesburg International Airport as it confirmed its probe into financial irregularities continues.

"The company intends to pursue all those involved in criminal actions against the company and will provide updates regarding the continuing investigation in due course," the AMI said in a statement to the stock exchange.

The group also said that a relationship with the airport medical centre at Cape Town Airport has also been terminated.

The group says it will now focus on constructing and operating private hospitals with integrated Well Woman clinics.

And in line with that strategy it will consolidate its current portfolio, which includes the Dar es Salaam and Maputo private hospitals with its integrated Well woman clinics, and its Harare hospital, which will be completed during the current financial year.

On July 9, the company said it had suspended chief executive Vivek Solanki "pending the investigation of potential financial and administrative irregularities".

Newly appointed finance director Brett Winstone stepped up to become interim CEO.

http://www.proactiveinvestors.co.uk/companies/news/20137/african-medical-to-shift-focus-to-private-hospitals-and-well-woman-clinics-20137.html