African Medical Investments Plc. : Strategic Review & Board Changes

African Medical Investments plc / Index: AIM / Epic: AMEI / Sector: Healthcare
13 January 2011

African Medical Investments plc ('African Medical' or 'the Company') Strategic Review & Board Changes

African Medical Investments plc, the AIM listed company operating in the African healthcare sector, announces that Harbinger Capital Partners ('Harbinger'), the Company's
53.9% controlling shareholder, in collaboration with Messrs Phil Edmonds and Andrew Groves, both non-executive directors of African Medical, has initiated a strategic review of the Company's operations to assess how best to take the business forward and maximise value from its assets.
In demonstration of its ongoing commitment to African Medical, Harbinger has agreed to invest US$5m of capital into the Company on terms to be agreed to ensure that its boutique hospitals in Dar es Salaam, Maputo and Harare are fully funded as they endeavour to further establish their positions as providers of international standard healthcare.
The Company also announces that Mr. Lawrence M. Clark Jr., Harbinger's appointed representative on the Board of the Company, has resigned and Harbinger intends to appoint Mr. Joe Cleverdon to the Board as his replacement shortly. It is anticipated that Mr. Cleverdon will assume the executive role previously fulfilled by Mr. Clark. A further announcement in this regard will be made in due course.
Mr. Brett Winstone has also stepped down from his position as Finance Director of the Company with immediate effect to pursue other interests and has handed over his functions to the existing in-house team.

** ENDS **

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

Andrew Groves	African Medical Investments Plc	Tel: [phone]
Jonathan Wright	Seymour Pierce Ltd	Tel: [phone]
David Foreman	Seymour Pierce Ltd	Tel: [phone]
Alastair Stratton	Matrix Corporate Capital	Tel: [phone]
Nick Stone	Matrix Corporate Capital	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 currently owns and operates private hospitals in Dar es Salaam and Maputo, and is currently constructing a 20 bed hospital in Harare which is due for completion during the current financial year.
The Company is focussed on expanding its portfolio of medical facilities through the roll out of additional private boutique hospitals, satellite hospitals and bespoke corporate/in- house clinics which are planned across Africa to cater for the increased demand for quality healthcare.