MAM division offers pounds 93m for group of psychiatric hospitals
Friday 12 April 1996
The proposed deal for the group is subject to Mercury carrying out due diligence checks on the business. MDC said yesterday that the intended purchase would allow it to invest in a developing business with an excellent performance record.
Ian Armitage, a director at MDC, said: "We are hoping to develop the group. It is too soon to talk about expansion or acquisition. In this area, these things happen on the basis of incremental leaps, such as a new unit being built."
Priory Hospitals Group has been owned by Community Psychiatric Centerscor, based in Las Vegas, for about 10 years. It has a number of small hospitals around the country, together with dialysis, forensic and child care units.
The development of a private psychiatric unit in Britain has allowed the US operation to compete for referrals from a variety of sources, including insurers, GPs and the NHS.
CPC said yesterday that the sale valued each bed at almost pounds 130,000. The price is, however, less than is normally paid for beds in private hospitals treating the physically ill, who generate more revenue through a greater use of medical services and supplies.
Mercury Development Capital is the private equity arm of MAM.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
New era of cheap oil 'will destroy green revolution'
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
iJobs Money & Business
£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...