Virgin gets slice of England’s primary care servicesBMJ 2010; 340 doi: https://doi.org/10.1136/bmj.c1355 (Published 09 March 2010) Cite this as: BMJ 2010;340:c1355
- Nigel Hawkes
Two publicly quoted independent sector healthcare providers became entirely private companies last week, as Richard Branson’s Virgin took over Assura’s medical division, and Care UK negotiated a management buyout with the private equity group Bridgepoint.
That apart, the two deals are very different. Assura is basically a property company with £350m (€390m; $530m) of assets, mostly on long term rental to the NHS, a profitable pharmacy chain, and a joint venture operation with local GPs that has won around 50 contracts to provide primary care services in England.
Assura Medical, the division that will be 75% owned by Virgin when the deal is completed, has been successful in winning contracts but lost £4.4m last year, dragging the whole group into losses. Without its …