This business plan (the “Plan”) has been prepared by the directors of HarmonyBridge Children’s Health & Rehabilitation Centres (“HarmonyBridge”, “HCHR”, the “Group” or the “Company”) solely to assist prospective financiers, development finance institutions and equity investors in evaluating a potential participation in the Group’s capital-raising programme (an R700 million flagship investment within a multi-round national programme). It does not constitute an offer, invitation or solicitation to subscribe for or purchase any security.
The financial projections contained herein are forward-looking and rest on assumptions management considers reasonable at the date of preparation. The headline revenue and EBITDA figures reflect the sponsor’s operating targets; all items below EBITDA, depreciation, financing costs, taxation and returns, have been independently re-derived by the preparers under the transparent assumptions set out in the Financial Plan and Appendices. A capital-intensive healthcare-infrastructure rollout is inherently exposed to workforce-recruitment, occupancy-ramp, early-year liquidity, construction, funding and regulatory risk; actual results will differ from projections, potentially materially. The availability of rehabilitation professionals (physiotherapists, occupational and speech therapists) and paediatric specialists is the binding constraint; the R700 million funds the flagship only, with the national network dependent on multi-round funding; and the occupancy ramp and the exit multiple are the dominant value drivers, all are addressed and stress-tested explicitly herein. The model follows a pronounced J-curve with negative early earnings and a genuinely negative combined-stress downside, reflecting its capital intensity.
Where this Plan cites third-party data, including cerebral-palsy prevalence, premature-birth and therapist-shortage statistics and paediatric-care market estimates, such data is believed reliable but has not been independently verified by the Company. Revenue, volume and margin figures preserve the sponsor’s stated outlook and are benchmarked to the South African healthcare sector; they do not constitute an independent market, clinical or valuation report; detailed clinical, workforce, market and construction due diligence and independent valuation would form part of formal transaction diligence.
NoteAnalytical independence
Consistent with bankability standards, the modelling preserves the sponsor’s revenue and EBITDA outlook and derives every line below EBITDA from first principles, applying component straight-line depreciation of the building, equipment and platform base from commissioning, full cash interest on the drawn debt, and a 27% corporate tax charge with assessed-loss carry-forward. The balance sheet ties in every year, and the capital intensity, the J-curve, the flagship-versus-network funding gap and the binding workforce constraint are disclosed and foregrounded throughout.
By accepting this document, the recipient agrees to keep its contents confidential, to use it solely for evaluating the transaction described, and to return or destroy it on request. Prospective investors should conduct their own due diligence and obtain independent legal, tax, clinical and financial advice before making any investment decision.