Covenant backed to acquire Gainsborough Clinic

Posted on February 1st, by editor in Caring Times. No Comments

Phoenix Equity Partners and Bank of Scotland Corporate Banking have backed Covenant Healthcare to make its third acquisition in nine months. Covenant has exchanged contracts to acquire the Gainsborough Clinic in Lambeth, Central London and will invest about £15 million in acquiring and developing the clinic. This follows on from the successful acquisition of the Abbey Hospitals Group and the Transform Medical Group in the second half of 2002, and will expand the reach of Covenant¹s acute medical and rehabilitation services into the heart of London. Historically the clinic has undertaken a wide range of acute surgery along with other medical and psychiatric services and it is Covenant¹s intention to expand these areas. London and the South East have particularly low provision of high quality acute rehabilitation services from the private sector which, says Covenant, the clinic acquisition will begin to redress. Services will be offered to both NHS and self funded patients. Abbey Hospitals currently owns and

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