Aurelia Healthcare — Implementation Roadmap & Project Execution
The master implementation schedule across the phased pre-development, construction, operations ramp-up and ecosystem build-out, and the critical success factors and gating criteria.
Section 8 · Business Plan
Implementation Roadmap & Project Execution
The master implementation schedule across the phased pre-development, construction, operations ramp-up and ecosystem build-out, and the critical success factors and gating criteria.
8.1 Master Implementation Schedule
The Aurelia development is structured as a 120-month (10-year)
program with clearly defined phases, gating criteria, and dependency
relationships. The accompanying Gantt chart provides a complete visual
representation of the master schedule including critical-path
activities, parallel work streams, and milestone dependencies.
8.2 Phase I — Pre-Development (Months 0–9)
| Workstream | Start | Duration | Critical Outputs |
|---|---|---|---|
| Financial close & equity injection | M0 | 3 months | Definitive agreements; first capital draw |
| Site acquisition (Sandton/Modderfontein) | M1 | 4 months | Title transfer; due diligence; planning conformity |
| Regulatory & licensing approvals | M2 | 7 months | OHSC, HPCSA, Department of Health licenses |
| Hospital design & specification | M3 | 8 months | Schematic, detailed design, FFE specification |
| EPC contractor procurement | M6 | 4 months | Tier-1 EPC contract executed (anticipated: WBHO/Murray & Roberts JV) |
| Equipment & medical-tech procurement | M6 | 12 months | Long-lead equipment ordered (linacs, MRIs, cath labs) |
8.3 Phase I — Construction (Months 9–34)
| Workstream | Start | Duration | Critical Outputs |
|---|---|---|---|
| Site works & foundation | M9 | 5 months | Bulk earthworks; piling; basement structure |
| Structural construction | M12 | 12 months | Topping out; building envelope complete |
| MEP & medical gas installation | M18 | 9 months | HVAC, electrical, medical gases, ICT cabling |
| Fit-out & medical equipment | M24 | 7 months | Theatre fit-out, ICU commissioning, equipment install |
| Commissioning & accreditation (COHSASA) | M30 | 4 months | COHSASA accreditation; OHSC certification; payer contracting |
8.4 Phase I — Operations Ramp-up (Months 34–52)
First patient admission at the Aurelia Medical City flagship is
targeted for Project Month 34 (approximately Q3 2028 from a financial
close in Q4 2025). The 18-month ramp-up trajectory anticipates
progressive specialty activation (general surgery, internal medicine,
paediatrics in the first 6 months; cardiac, oncology, trauma in months
6–12; transplant and complex quaternary services in months 12–18), with
bed occupancy rising from approximately 38% in Year 1 to 78% by end of
Year 4.
8.5 Phase II — Regional Hospitals (Months 28–68)
Regional hospital development runs in parallel with flagship
operations, leveraging shared design templates (modular standardisation
reduces design and construction time by ~25% versus the flagship),
shared procurement, and shared operational protocols. Site acquisition
begins in Month 28 (overlap with flagship commissioning), with
construction sequenced to deliver Cape Town opening in Month 54, Durban
in Month 62, and Pretoria in Month 68.
8.6 Phase III — Ecosystem Build-out (Months 60–96)
The outpatient, dialysis, telemedicine, and PPP build-out commences
once the four core hospitals are commissioned and generating cash flow.
This phase represents the lowest capital intensity (USD 23 million) and
highest organic growth optionality, with site selection and specialty
programming informed by 24+ months of operational data from Phases I and
II.
8.7 Critical Success Factors & Gating Criteria
| Stage Gate | Trigger | Criteria | Decision Authority |
|---|---|---|---|
| Financial Close | M0 | All conditions precedent satisfied; senior debt and equity drawn | Sponsor Board + Lenders |
| Construction Start (Phase I) | M9 | EPC contract executed; site permits issued; 30% of equity drawn | Sponsor Board |
| Phase I Commissioning | M30–M34 | COHSASA accreditation; ≥80% specialist coverage agreements; payer contracts | Sponsor Board + AfDB |
| Phase II Construction Start | M28 | Phase I 12-month occupancy ≥65%; Phase I EBITDA ≥ -USD 2M | Sponsor Board + AfDB |
| Phase III Build-out | M60 | Group EBITDA margin ≥22%; Group DSCR ≥1.4x | Sponsor Board |
| Strategic Exit | M102+ | Group EBITDA ≥USD 140M; market conditions supportive | Sponsor Board + Lead Investors |
Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Aurelia Healthcare Holdings (Pty) Ltd.