African Medical Investments Plc. : Appointment of Chief Financial Officer

African Medical Investments plc / Index: AIM / Epic: AMEI / Sector: Healthcare
12 January 2012

African Medical Investments plc ('African Medical' or 'the Company') Appointment of Chief Financial Officer

African Medical Investments plc, the AIM listed company operating in the African healthcare sector, is pleased to announce the appointment of Mr. Craig Harding as Chief Financial Officer of the Company with immediate effect. This non-board appointment supports the Company's strategy to implement robust financial and corporate governance mandates that will facilitate the continued improvement of the Company's financial performance across its portfolio of specialist hospitals.
Mr. Harding is a Chartered accountant (CA(SA)) and has extensive financial and operating experience in the African financial services market. He joins the Company following his position as Managing Director of Altrisk (Pty) Ltd ('Altrisk'), a specialist long term risk product provider of life, critical illness and disability products. Established in 1999, Altrisk has in excess of 100,000 clients, an annualised gross premium income of approximately ZAR811 million (£65 million), and is a member of the Hollard Group, the largest independent insurer in South Africa. During Mr. Harding's six year tenure with Altrisk, the company trebled in size, doubling its market share of new business to approximately 10 per cent of all risk business in the independent advisor market.
Prior to his appointment at Altrisk, Mr. Harding occupied the position of Executive Director with responsibility for all Life businesses in the then-listed African Life Assurance Group across Africa, including South Africa. During Mr. Harding's time with African Life, it developed from a small domestic insurer to a pan-African financial services company.
African Medical Chief Executive Officer, Peter Botha said, "Craig's appointment comes at a time of great opportunity for African Medical and I am confident that his extensive knowledge and experience in the African financial services market will enable African Medical to successfully consolidate and strengthen financial performance across our portfolio of operations. The various initiatives which we have instigated across our three specialist hospitals in Maputo, Dar es Salaam and Harare are having a dramatic effect on revenue growth in addition to operating expense and operating loss reductions, and this strategy will remain of paramount importance as we look to expand our operations in 2012."

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For further information please visit www.amiplc.com or contact:

Peter Botha	African Medical Investments Plc	Tel: [phone]
Jonathan Wright

David Foreman	Seymour Pierce Ltd	Tel: [phone]
David Hart	Daniel Stewart & Company Plc	Tel: [phone]
Martin Lampshire	Daniel Stewart & Company Plc	Tel: [phone]
Hugo de Salis	St Brides Media & Finance Ltd	Tel: [phone]
Susie Geliher	St Brides Media & Finance Ltd	Tel: [phone]

Notes

African Medical Investments plc (AIM: AMEI) provides international standard healthcare through private hospitals across Africa, targeting the expanding African middle classes and the expatriate, non-governmental organisations, diplomatic and tourist markets. The Company owns and operates private hospitals in Dar es Salaam, Maputo and Harare. Its current focus is on improving occupancy rates and optimising the space of these facilities, however expansion remains a longer term focus either through the construction of new hospitals or investments in existing facilities.