Hedge Fund Harbinger Capital Discloses New Position in African Medical Investments ~ market folly

Monday, May 10, 2010

Hedge Fund Harbinger Capital Discloses New Position in African Medical Investments

Phil Falcone's hedge fund Harbinger Capital Partners have disclosed yet another stake via regulatory filings in the UK. Harbinger now owns 41.89% of the ordinary shares in African Medical Investments (LON: AMEI). They own 86,501,000 shares in the company and this marks a brand new position for them. African Medical recently issued a secondary offering on April 30th, 2010 for 12,500,000 shares.

Falcone's hedge fund has seen a flurry of portfolio activity as of late. Their latest AMEI position comes after we recently saw that Harbinger still owns shares in Mercer International (MERC) and also sold shares of New York Times (NYT). Additionally, Falcone's hedge fund started a new stake in Palm prior to the buyout from Hewlett Packard. Not to mention, the hedge fund even announced its ambitious plans for a 4G wireless network.

Taken from Google Finance, "African Medical Investments plc (African Medical Investments) is engaged in the healthcare sector in Africa. The Company, through VIP Healthcare Solutions Limited (VIP Healthcare), manages the Dar es Salaam Trauma Centre and Well Woman Clinic, the Trauma Centre in Harare and Airport Medical & Travel Vaccination Centres at Johannesburg International Airport and Cape Town International Airport. The Company has two further facilities in development: the Maputo Trauma Centre and Well Woman Clinic in Mozambique and the Airport Medical & Travel Vaccination Centre at Kilimanjaro International Airport. On December 9, 2009, the Company acquired VIP Healthcare Solutions Limited (VIP Healthcare)."

For more on our coverage of Falcone's hedge fund, head to Harbinger's recent portfolio activity.

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