Christie + Co
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

28/09/2016
The controversial care.data programme cost NHS England almost £8 million before being scrapped this year, according to the latest reports.
28/09/2016
Care Circle and Slemish Homes, which are subsidiaries of Northern Irish provider Care Circle Group, have been placed into administration.
27/09/2016
Outsourcing company Mitie has issued a profit warning ahead of its results for the second half of 2015-16 and claims its healthcare division is partly to blame.
26/09/2016
Hip and knee replacements carried out by the independent sector contribute £540-£692 million towards the UK economy every year, according to a new report.
26/09/2016
Healthcare packaging supplier Laminar Medica has been acquired by New York-listed Sonoco ThermoSafe, a subsidiary of Sonoco.






The fostering market has drivers that are highly attractive to investors but achieving scale is not as easy as it looks, finds Ploy Radford
Read more...


Christie + Co

The failed Cambridgeshire elderly people’s contract, which saw Uniting Care throwing in the towel after just eight months, has made headlines everywhere. But what exactly went wrong, asks Luke Cloherty
Read more...


Tim Ashlin is partner at private equity house Synova Capital
Lumeon (formerly Qinec) is looking to change the way care pathways are managed, shared and monetised. Its chief operating officer Andrew Wyatt tells HealthInvestor about its new platform, Marketplace
Ardian and GHO Capital have acquired Envision Pharma from Halifax Group. HealthInvestor investigates what drew the companies towards each other
Sir Martin Narey has recommended the ‘Stay close’ agenda in his recent report on children’s care. Clare Connell and Charlotte Bushnell of Connell Consulting explores what this means for the sector
Patrick Bansch and Dr Michelle Tempest of Candesic review the health and wellness market and consider an exciting new investment opportunity in a luxury holistic health hotel

Click here to search all feature articles