Scott takes helm in Southern Cross management buy out

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

Philip Scott is the new chief executive of major provider Southern Cross, following the completion of a buyout by its existing management team in late August. Former executive chairman John Moreton has departed the company to pursue other interests. Mr Scott told Caring Times the £80 million acquisition was backed by West Private Equity, the mid-market private equity firm, a subsidiary of the German West LB bank. West will support the management team by providing the financial muscle to ensure Southern Cross can take advantage of further growth opportunities. “Myself and Chris Rutter, the finance director, have been effectively running the company for the past six months,” Mr Scott said. “We now aim to take Southern Cross to the position where, by development and acquisition, it is double its present size across the UK. We also plan to increase the proportion of specialist care facilities within the company¹s portfolio.” Southern Cross Healthcare is currently the UK¹s third largest provider of residential

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