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ABOUT US

PROMEDICAL PRIMARY COOPERATIVE LIMITED

  • At present Promedical has about 141 members out of which 50 are paid up members and continues to grow day by day.

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  • The main goal of Promedical is to become a co-operative bank once it attains a target minimum number of 200 members and 1 million rands in the bank, at which point it will lend money to its members at an interest and also finance the members and its own projects.

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  • The other objective of Promedical is to create a fund that will finance the building of its private hospitals, rehabilitation centres, day hospitals and medical centres.

  • The private hospitals and medical centers will mainly be in the townships, rural areas and other places of need and will be service positioned in between private and government hospitals in terms of cost and yet will provide world class health services.

  • These hospitals will be ready to contract with NHI as and when it is rolled out.

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  • At present moment our clients are RAF, WCA , medical aids and out of pocket paying patients.

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  • Promedical also invites ordinary people to join as members and offers them in return affordable health benefits

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  • The biggest future market for Promedical is the one depicted by the pyramid below. This market resides in the middle of the pyramid and is approximately 15 million people who cannot afford a medical aid and yet can pay out of their pockets. These people do not ordinarily use government health services unless forced by circumstances to do so and yet do have cash to make out of pocket payments.

The following triangle illustrates our target market:

PROMEDICAL Pyramid 1.png

  • Our strategy is not to only invest in our own health infrastructure but to partner and invest in government too, by negotiating space to add theatres, ICUs and wards to better service those who pay from their pockets. This is in line with folateng policy and PPP .

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  • This model and strategy put us in a better position to provide sustainable affordable and quality health to out of pocket paying patients, and most importantly to the diaspora.

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  • Promedical believes that the out of pocket paying patient pool is about 15 million, however adding the diaspora may be even more.

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  • The B segment (middle of the pyramid), we believe will always shift up or down in favour of Promedical as the country’s economy changes and the rollout of NHI will always work in our favour too.

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  • Promedical invests in health and health related projects as we feel that it’s the only area, we are comfortable with in terms of knowledge and experience.

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  • In all our investments, equipment and property ownership is key except in very few instances when doing business with government.

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  • Promedical finances and takes equity in all businesses brought by its members and strictly finances health facilities and nothing else by pulling funds from its members on monthly and/or adhoc basis.

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  • Promedical makes use of its members to deliver health services to its patients who are cooperatives members and non-cooperatives members.

Promedical business model:

Management:

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  • Promedical is managed by 4 members, namely; - Chairman, Treasurer, Secretary and Marketing member.

  • The board members, chairman, treasurer and secretary resign every 4 years on election of new management at an AGM, In line with the Cooperatives act 14 of 2005 as amended, and the constitution of Promedical.

  • All management decision are taken with Promedical constitution and the act in mind.

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Board Members:

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  • Chairman: Dr F Mathebula

  • Secretary: M Ngqandu

  • Treasury: L Motsekoa

  • Marketing: Dr GML Mkulise

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Ordinary Board Members

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  • Mr Lucky Fenyane;

  • Mr Wandile Moletsane;

  • Mr Tirelo Mkulise;

  • Ms Valentine Vandaele

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