Umuthi Healthcare to pursue UK IPO

Umuthi Healthcare disclosed plans to purse an initial public offering in the UK and a standard listing on the London Stock Exchange's main market.

The healthcare specialist's main business areas included pharmaceuticals distribution, the provision of medical facilities in remote areas, medical research and insurance.

Focused on South Africa, its main operating unit, known as Lems, had already inked purchase agreements with two drug manufacturers in the country and conditional letters of intent with the goal of developing a portfolio of medical centres.