“Netcare”, “the Group”
or “the Company”
Registration number: 1996/008242/06
JSE share code:
Netcare Limited, an investment holding
company, operates through its
subsidiaries the largest private hospital
network in South Africa (SA) and the
United Kingdom (UK). The Company’s
ordinary shares have been listed on
the JSE, South Africa, since 1996.
Reference to additional
Reference to additional information
within the annual integrated report.
We welcome feedback from our
stakeholders on the format, structure
and content of our report, which can
be emailed to email@example.com.
According to our self-assessment, our
report meets the requirements of
a level B reporter in terms of the
Global Reporting Initiative’s (GRI) G3
Sustainability Reporting Guidelines.
For our GRI content index click on the following link.
For important information on the
forward-looking statements contained
in this report, please click on the following link.
Our report is available online in HTML
and PDF format and can be accessed
from the Netcare Investor site
Access to quality healthcare is a basic human right and fundamental
to social and environmental sustainability. It is the basis for selfactualisation
and the foundation for progress.
Netcare is a values-driven organisation that understands the
importance of service leadership, engagement, listening, learning
and partnership in fulfilling its purpose to help care for the health
Scope of the report
Our annual integrated report for the
year ended 30 September 2011 details our efforts to act on our
commitment to society, while also
indicating why we believe Netcare’s
strategy is sound and will enable us
to create value for our stakeholders
into the future.
Framed within the longer-term intent
of our strategy and expectations for
the future, our report reviews our
value contribution to all our
stakeholders, including our social,
operational, financial and
environmental performance. As such,
it aims to cater for a broad
stakeholder readership, while also
providing the information that
shareholders have traditionally
required. We hesitate to call this our
first integrated report as our reports in the past have attempted to assess
our performance from considerably
broader than just a financial and
operational perspective. So while we
have attempted to provide
comprehensive data and commentary
that clearly links our strategy to our
value drivers and assesses our
performance in the context of our
material issues, the components of
this year’s report remain largely the
same. Given the distinct differences
in the business structure and material
issues in each of our geographies,
the structural improvements we have
made are mainly to be found in the
operational reviews, which aim to
consolidate all the relevant reports
pertaining to each operation.
We will continue to improve our
reporting in the year ahead, specifically in defining integrated
performance indicators and targets, with
the aim of providing the information
necessary for our stakeholders to make
informed choices about our ability to
create and sustain value into the future.
Our report covers all our operating
subsidiaries and joint ventures in SA
and the UK, unless otherwise stated.
An overview of our Public Private
Partnerships is also provided.
We have endeavoured to prepare our
report in accordance with all applicable
reporting requirements, including those
of the South African Companies Act
No 71 of 2008, the Listing Requirements
of the JSE Limited and the King Report
on Governance for South Africa
(King III). We have also considered the
guidelines contained in the discussion paper of the Integrated Reporting
Committee issued in January this year.
The annual financial statements are
prepared according to International
Financial Reporting Standards (IFRS).
In determining the content of the
annual integrated report, we aimed to
provide comprehensive and material
disclosure to serve the needs of all our
We acknowledge that we have much
work to do in implementing the
combined assurance model envisaged
in King III, and specific attention will
be given to this in the year ahead.
A combined assurance model has
been developed by Group Internal
Audit that can be applied to major risks
indentified. The proposed model has been considered by the Audit
Committee and will be implemented by
Group Internal Audit in 2012. Thereafter,
the intention is to move towards external
assurance of the full report.
The opinion of the Group’s external
auditors, Grant Thornton, on our annual
financial statements can be found on