Thebemed placed under provisional curatorship

Legalbrief Today

SA’s foremost black-owned and managed healthcare administrator, Thebemed Medical Scheme, has been placed under provisional curatorship by the Council for Medical Schemes (CMS) after the company ran into financial hardships, says a report in Business Report. Sipho Kabane, chief executive and registrar of CMS, said the decision followed ‘persistent’ financial difficulties by the company. ‘Because of the scheme’s financial difficulties and its failure to maintain the minimum statutory solvency ratio of 25%, as set out in regulation 29(2) of Medical Schemes Act, Ian Fleming has been appointed as the provisional curator of Thebe Medical scheme until such time that it can maintain the minimum statutory solvency ratio,’ Kabane said. ‘The curator will assume control of the business of the scheme in order to ensure proper corporate governance and attend to improving the solvency ratio of the scheme. There is therefore no need for any concern on the part of Thebemed members and service providers regarding the day-to-day operations of the scheme.’ The report notes that as a Level 1 BBBEE contributor, Thebemed is the most black-empowered administrator in the country.

Full report in Business Report