Westminster floats Priory bond issue


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

Westminster Healthcare has floated a £115 million bond issue to securitise its Priory group of 28 mental health facilities. Westminster’s chief executive Dr Chai Patel; said that while asset backed securitisations were common in the long term care sector, this was the first time a bond issue had been used for securitisation in the mental health sector. Westminster bought the Priory six months ago for £100 million from Mercury Private Equity, part of the Mercury fund management group. Barclay’s Capital is handling the current bond issue. Dr Patel said he beleived there were opportunities for the profitable Priory group to expand, both in the UK and in other European countries. He said the Government was increasingly looking to work in partnership with independent providers of mental healthcare facilities.





Comments are closed.


Latest blog posts

Care homes discounted in end of life care

By Caring Times editor GEOFF HODGSON

I am sure that we all want those who we care for to experience ‘a good death’ when the time...

Perhaps I’m ‘app’athetic

By Caring Times editor GEOFF HODGSON

I’ve got an app in my toolbox that allows me to bang-in nails – I call it a hammer. I’ve...

Fond memories of long distance discomfort

By Caring Times editor GEOFF HODGSON

The Ford Anglia, the earliest models of which were built in 1939, was a great car for a small family;...