LaingBuisson Newsletter Archives

Spire, the UK’s largest hospital provider, in its annual report for the year ended 31 December 2012 showed revenue up 9.6% to £739.0m from £674.0m in 2011. Operating expenses were £534.6m. Exceptional items of £11.9m for corporate restructuring, refinancing and regulatory costs, £6.0m for PIP patient recalls, £2.6m for reorganisation and set up costs, £2.7m for rent and £51.5m depreciation left an operating profit of £129.7m (2011: £134.1m). EBITDAR (pre-exceptional items) was £204.0m, being 28% of revenue, making Spire best in class’ for its KPI (2011: £188.2m).

Chief executive of cloudBuy, Lyn Duncan, explains how it is helping Northamptonshire county council implement an important part of the Care Act 2014.

Healthcare Market News (Personnel) May 2000 Professor Louis Appleby has been appointed national director for mental health. He is currently Professor of...

Circle Holdings, the employee co-owned hospital group, has won preferred bidder status for the prime contractor musculoskeletal (MSK) integrated service in Bedfordshire.

Health Care REIT is to increase its shareholding in Sunrise Senior Living Management Company from 20% to 24%. Canadian care provider Revera Inc will own the remainder of the business under the recapitalisation agreement, which is expected to be completed by this summer. The two parties currently have a joint-venture partnership which owns 47 private pay retirement communities in Canada.

Alpha Hospitals Ltd, which provides specialist secure psychiatric care for adults and young people, suffered a drop in profit as recorded in its financial statements for the year ended 31 March 2011.

Healthcare Market News (News) February 2001 The government has announced pay increases of 3.7% for 300,000 NHS staff, including ambulance workers, scientists,...

Suhail Mirza looks at how private hospital providers are searching for growth in self-pay as PMI remains flat

Charitable hospital and fitness provider Nuffield Health has reported a small dip in group turnover on a like-for-like basis – from £548m in 2009 to £546m – in its 2010 Report and Financial Statement.

Property consultant Knight Frank has predicted that care home provider HC-One will be sold by the end of the year, adding further fuel to speculation that a deal is in the offing. In its UK Healthcare Market Review Autumn 2013 (see this issue News), Knight Frank said that the end of 2013 could see the disposal of HC-One and a number of mid-cap corporate operators as the finale of restructuring processes’. Four Seasons Health Care is one company currently being mooted to take on the provider formed two years ago the collapse of Southern Cross (CCMn July 2011). Sector sources told CCMn that it would make a lot of sense for Four Seasons to buy HC-One. It recently refinanced (CCMn May 2012) and HC-One’s portfolio of homes would make a good fit with Four Seasons’ community-focused care division, with a few going into its private-pay arm. It’s an estate that Four Seasons is extremely familiar with and acquiring it would leave Four Seasons in a strong position ahead of a possible sale or flotation next year. According to The Sunday Telegraph, Four Seasons owner Terra Firma has held meetings with the management of and is planning a first-round bid for the business, including landlord NHP, which has been valued in the region of £550m to £600m. Other bidders reportedly included a number of US-based private equity bidders and real estate investment trusts. HC-One is a wholly-owned subsidiary of former Southern Cross landlord NHP and the estate is managed by Court Cavendish. The business was officially launched on 1 November 2011 when around 33% of the former Southern Cross estate was transferred to the company and it entered the sector as the third largest UK provider of long-term care.