Health firm to sell for £100m

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The Independent Online

St Luke's Healthcare, which treats and looks after adults and adolescents with mental health problems and brain injuries, is set to go on sale for around £100m.

Clearwater Corporate Finance was hired just before Christmas to handle the auction and is expected to release information on the business in the next few weeks.

St Luke's, which is run and owned by three directors, including its chief executive, Dr Jacquie Tweedie, did try a sale at the height of the credit crunch, when it was advised by Cavendish Corporate Finance. However, it couldn't secure a deal as mid-market private-equity groups were cautious with their money at the time.

Today, St Luke's should secure a more substantial price than the figure just north of £50m that it was previously looking for.

St Luke's is run from 14 facilities in Essex, Norfolk, Hampshire and Ebbw Vale in Wales, and has a turnover of more than £20m. It provides a range of treatment and care, ranging from psychiatry to ball games.