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Release Date: 07/01/2021 12:58
Code(s): ACT     PDF:  
Wrap Text
Award of the GEMS Managed Care Contract

AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416

Award of the GEMS Managed Care Contract

AfroCentric Shareholders are advised that further to the Government Employees Medical
Scheme (“GEMS”) issuing a tender for its managed care services in 2019, Medscheme, a
100% subsidiary of the Afrocentric Group, were awarded the contract for this prestigious
client for 5 years, effective 1 January 2021. Medscheme have again been the preferred
incumbent for this part of the GEMS outsourced contracts which indicates the value our
client is experiencing through clinical protocols, interventions and groupwide thought
leadership in managing medical scheme expenditure.

The new contract includes additional services previously not part of the main managed care
contract with regards to HIV management, Maternity management and expanded services
relating to medicine management. Total annual revenue for all the services amount to R 630
million per annum.

The AfroCentric Board is proud to continue its long standing relationship with South Africa’s
largest closed scheme representing 1.9 million lives and 750 000 principal members.

7 January 2021

Sponsor: Sasfin Capital (a member of the Sasfin Group)

Date: 07-01-2021 12:58:00
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