Former Bosasa executive Angelo Agrizzi was moved from the Johannesburg Prison to a hospital on Thursday.
Correctional Services on Thursday confirmed the news on Thursday.
Agrizzi’s lawyers said his health deteriorated after spending one night behind bars after his bail application was denied in the Palm Ridge Magistrate’s Court.
On Wednesday, Agrizzi appeared in court on fraud and corruption charges and was denied bail.
The court ruled that Agrizzi’s foreign assets make him a flight risk.
He appeared alongside former ANC MP Vincent Smith.
Smith’s bail has been extended to 3 December.