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BUPA Plan To Sell-Off Hospitals |
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Written by Staff Writer
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Apr 08, 2007 at 05:33 PM |
Private healthcare giant BUPA is considering whether to sell its UK hospitals in a move that could raise £1.2 billion or more.It is thought proceeds from the 26-strong estate could be used to fund expansion of its care homes business, which has 298 sites in Britain.
The group also has sizeable insurance operations in the UK and overseas.
Private equity groups and overseas investors are likely to show an interest.
BUPA confirmed it was in preliminary discussions with potential hospital purchasers but stressed it was not considering the sale of any other part of the group.
A statement said: "The board confirms that it is undertaking a review to establish whether, given the significant changes in the UK healthcare economy and in particular the increasing role the private sector is playing in that market, there may be benefits for the customers and other stakeholders of BUPA Hospitals and the BUPA Group in a sale of BUPA Hospitals."
BUPA, established in 1947, has 8.1 million customers in 190 countries and employs 46,000 people.
As a provident, it does not have shareholders and profits are ploughed back into patient care.
The statement said it was not considering a change in status of the group as a whole
As well as its board of directors, oversight is provided by 100 members who have no direct economic interest in the company.
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Last Updated ( Apr 08, 2007 at 05:38 PM )
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