Ascendis Health appoints Mark Sardi as the new chief executive

SOUTH AFRICA –   Health and wellness business Ascendis Health has announced the appointment of Mark Sardi as chief executive officer and an executive director on the 2nd of September 2019. He is to report to his new appointment with effect from 14 October 2019. Sardi joins the healthcare group from House of Busby where he has been CEO since 2014. According to News 24, The post was being held at interim by the chairman of the company Andrew Marshall since the departure of the previous CEO Thomas Thomsen in May…

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Coast2Coast further offloads 11.5% stake in Ascendis Health

SOUTH AFRICA – Ascendis Health’s private-equity backer, Coast2Coast, has sold an additional 11.5% stake in the healthcare company effectively reducing its stake in Ascendis to just 14%. Coast2Coast through its subsidiary Gane Holdings, owned 25.5% of Ascendis in December 2018, and a year before, it held 30.9% of the company. The private equity group has been forced to offload large chunks of Ascendis shares in recent months to meet obligations to lenders, since the stock was used as collateral for loans, reports Business Day. This comes about a month after…

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Ascendis to sell noncore Bioscience businesses for US$33.05m

SOUTH AFRICA – Ascendis Health, a South African based health and wellness group, has unveiled plans of selling its three businesses within the Biosciences division to a consortium for US$33.05 million (R480m) as part of a strategic review. Ascendis has earmarked Efekto, Marltons and Afrikelp businesses to a consortium comprising of RMB Ventures, Nedbank Private Equity and certain members of the management of the Ascendis Biosciences division, reports Business Day. According to Thomas Thomsen, Ascendis’ chief executive officer the business units have been noncore to the group’s strategy. “Following our…

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