Connell Consulting
Essential reading for the healthcare business
 
 
Remember me:
Skip Navigation Links
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

25/08/2016
Private healthcare group Circle has seen its gross profit margin improve from 3% the previous year to 30%, according to financial results for the period ended 30 June 2016.
25/08/2016
Audley Retirement has had an “excellent” first half to the year with revenues up 511% to £31.6 million (H1 2015: £5.2 million).
25/08/2016
Private hospital group Spire Healthcare has seen its operating profit rise by 13.1% to £35.7 million in the first half of the year (H1 2015: £30.8 million).
25/08/2016
Private equity house Livingbridge has acquired Four Eyes Insight, a clinical consulting firm.
24/08/2016
UAE private hospital operator NMC Health has seen revenues increase by 46.9% year-on-year in the first half of 2016.




Recent months have seen US REITs become a little quieter in the UK healthcare sector due to problems both here and at home. Luke Cloherty investigates
Read more...


Christie + Co



Healthcare at Home has had its troubles in the past. Ploy Radford talks to its CEO and private equity investor about how the company has rebuilt its reputation and moved on
Read more...


Candesic’s Floris Wentholt, Dr Joe Taylor and Marc Kitten explore the market for CPAP in obstructive sleep apnoea
Recent months have seen US REITs become a little quieter in the UK healthcare sector due to problems both here and at home. Luke Cloherty investigates
Clare Connell and Charlotte Bushnell of Connell Consulting investigate the potential of a new treatment for Alzheimer’s disease
The world of healthcare finance is a broad and ever expanding beast with varied options available for those looking to raise capital. Here, HealthInvestor looks at the world of asset financing
Social housing providers help those most in need, especially in austere times. Can they also provide investors looking for safer, more socially conscious investments with an opportunity, asks Luke Cloherty

Click here to search all feature articles












Search news
and features



Go




HealthInvestor Asia Summit

MIPIM Uk