Private company that took over failing NHS hospital seeks £47.5m to prevent insolvency

BMJ 2012; 344 doi: (Published 31 May 2012) Cite this as: BMJ 2012;344:e3862
  1. Nigel Hawkes
  1. 1London

Circle, the private company that won the contract to run Hinchingbrooke Hospital in Cambridgeshire, has launched a new round of funding at a deep discount to the price at which it floated on the alternative investment market (AIM) a year ago.

It is seeking to raise an additional £47.5m (€59m; $74m) (£46m after expenses) at a price of 70 p per share, and has received undertakings from existing shareholders representing 75% of the existing capital to vote in favour of the required resolutions at a shareholders’ meeting. The company plans to use the money to pay off an existing loan with a high …

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