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Craegmoor invests in new mental health service

Craegmoor is opening a new residential service in Sheffield for individuals with mental health needs.

Nuffield selected to run St Bart’s PPU

Nuffield Health has been appointed preferred bidder to build and operate a new private patient unit at St Bartholomew's Hospital in central London. The deal,...

Spire appoints new interim CEO

Spire Healthcare has appointed Simon Gordon as interim chief executive after Garry Watts announced he was stepping down for medical reasons. Gordon, who has been...

Concerns over NHS Direct

Healthcare Market News (News) August 2000 A report published by Health Which? claims that failures in the NHS Direct system could mean...

Extra money to tackle drug misuse

Healthcare Market News (News) December 2001 Health authorities will receive an additional £8m this year to invest in long-term drug prevention work....

BMI takes over management of cosmetic surgery centre

Healthcare Market News (News) February 2005 BMI Healthcare has agreed a long-term management contract with the McIndoe Surgical Centre in East Grinstead....

CHI mental health report

Healthcare Market News (Mental Health) February 2004 Staff shortages, underinvestment and major organisational change are continuing to hold back improvement to mental...

Priory Group grows profits on flat turnover

Recently posted results for Priory Group No.3 plc show that turnover across all of the group’s four divisions (healthcare, education, specialist services and older people) edged upwards by just 1.7% to reach £463.1m in calendar 2012 (2011: £455.4m on a pro forma basis, assuming the acquisition of Priory Group and Craegmoor Group took place on 1 January 2011). This was against a backdrop of challenging market conditions for this diversified health and care services group which derives the great bulk of its revenue from the public sector. Meanwhile the group managed to push EBITDAR up by a creditable 7% to £144.3m, or 31% of revenue (2011: £134.8m on the same comparative basis) mainly due to central cost savings arising from the successful integration of Craegmoor, Older People growth and three Specialist Services acquisitions’ – Harbour Care, Pensinsular Autism Support and High Quality Lifestyles’. The Healthcare division remains the group’s largest one, incorporating all of Priory’s mental health hospitals and generating turnover of £215m in 2012, followed by Education (£97m), Specialist Services consisting mainly of Craegmoor’s learning disabilities and mental health services (£89m) and Older People (£62m). After rent on leased premises, group EBITDA came in at £130m for 2012. Charges for depreciation, amortisation and exceptional items took the operating profit (profit before interest and tax) line down to £77.6m for the year. For full group interest charges and tax, it is necessary to await the statutory accounts of the head company, Priory Group No.1 plc, which have yet to be posted at Companies House.

Roche backs new cancer institute

A new cancer centre specialising in the use of highly targeted therapies has been set up in Dorset by local NHS staff with a combination of private investment, charitable donations and commercial funding from Roche Diagnostics.

Fall in self-pay patients hits Cromwell revenue

Bupa-owned Medical Services International (MSI), which operates London’s Cromwell Hospital, has reported a 3% dip in revenue to £102.2m for the year ended 31...