BMI to be sold to Circle Health

After the company’s bad performance in Hinchingbrooke Hospital in Cambridgeshire, and the loss of a NHS contract in Nottingham Treatment Centre, the Circle Health is buying up Britain’s biggest private hospital chain, BMI Healthcare

The acquisition which is expected to be signed this month, is taking the Circle Health into a major private company.

Circle Health has been owned by Toscafund and Penta Capital since it was delisted in 2017, its valued then was around £75m but with the new deal the company will form a large business with combined annual revenues of almost £1bn and 57 hospitals. 

The Circle owns two private hospitals in Bath and Reading and is planning to open a third one in Birmingham, as well as providing musculoskeletal services for the NHS. It will also open two clinics in China this year.

BMI Healthcare has 54 hospitals in the UK and had revenues of £887m in September 2017, which are being sold by shareholders including 47 per cent owner Centerbridge.

Advisers have told that the small company sees the deal as an opportunity to update the facilities and technology in BMI’s hospitals. 

Full article in The Financial Times, 29 November 2019 

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