Connell Consulting
Essential reading for the healthcare business
 
 
Remember me:
Skip Navigation LinksHealthInvestor article
Philip Scott checks out of Priory

Philip Scott (pictured) is to quit his role as chief executive of The Priory Group. 
 
In a statement issued on 4 July, the mental health giant said that, after five years at the helm, Scott felt "unable to commit for a further five years".
 
It characterised the decision as "completely amicable”, and said that Scott was now working with chairman Mike Jeffries to find a successor.
 
"I have greatly enjoyed my time at the Priory,” Scott said in a statement. “Having overseen the sale of the Group to Advent International in January 2011 and the subsequent purchase and integration of Craegmoor in April 2011, I feel that now is the right time to pursue opportunities elsewhere. 
 
"Until my successor has been appointed, though, it is very much business as usual and I remain committed to building on our strong financial performance to date.”
 
Advent acquired the Priory Group in January last year, in a £925 million deal. But in November, the group reduced its earnings forecast by 7%, blaming the squeeze on NHS budgets for a fall in patients. 
 
Revenues for the year to 31 December 2011 dropped slightly, to £455.4 million (2010: £456.1 million). And Scott warned that earnings this year would be disrupted by commissioning reforms in the NHS.
 
Scott joined the Priory Group in 2007, after seven years at Southern Cross.
 
It is not clear whether he will retain his equity stake in the business, or continue to rent various care properties back to the Priory Group.

Posted on: 05/07/2012

Latest news stories

16/10/2017
The Competition & Markets Authority has ruled that Cygnet Health Care must sell a hospital in the East Midlands from either its own portfolio or that of the Cambian adult services division it acquired, before combining the businesses.
16/10/2017
The cost to the NHS if Brexit negotiations do not adequately replace reciprocal healthcare agreements with Europe could total £500 million a year.
16/10/2017
Retirement living specialists Audley Group and Apache Capital Partners have formed a joint venture to deliver Audley’s first luxury retirement village in London.
16/10/2017
Steve Melton, the former chief executive of private hospital group Circle Health, has taken up the role of managing director of patient services at dental giant IDH Group.
13/10/2017
Swedish private equity house EQT has acquired Curaeos, which provides dental services across Europe.


Civica

HealthInvestor Summit 2017


deal in the spotlight
Legal & General has made its first foray into the retirement housing sector and hopes to establish a platform that will draw long-term investors in
Read more


HealthInvestor Events


how to: put together a board

An effective board should keep a company on an upward trajectory – but what does 'good' look like? Ploy Radford investigates
Read more


Christie + Co

HealthInvestor Events


company profile - Aura Care Living

Octopus Healthcare has taken a gamble on consumer appetite still being strong for high-end care homes in the affluent south. Ploy Radford visits the care home the investor believes is different from the competition
Read more



company profile: EMS Healthcare

Chief executive of EMS Healthcare Keith Austin tells Sarah Williams how the company's mobile units are helping the NHS and private providers to build capacity and respond faster to changing needs
Read more



HealthInvestor blog
Online healthcare providers need to be whiter than white or risk tarnishing the public image of private healthcare further

Click here to view the Editor's blog


Real estate expert – and part-time explorer – Julian Evans heads up healthcare, hotels and leisure advisory at Knight Frank
Getting buy-in from local GPs is key to opening new specialist services in the community, find Clare Connell and Henry Hunt of Connell Consulting
Candesic’s Dr Joe Taylor considers the implications of personalised pharmacotherapy for life sciences and healthcare
Lieven Jacquemyn, PPP international development director at GE Healthcare Singapore, discusses how governments, providers and investors can work together to bring universal health coverage to the region
Chief executive of EMS Healthcare Keith Austin tells Sarah Williams how the company’s mobile units are helping the NHS and private providers to build capacity and respond faster to changing needs

Click here to search all feature articles