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

19/01/2017
Care home provider LRH Homes has sold two of its assets to Dorset-based Agincare.
18/01/2017
Two companies have put in second round bids to acquire a portion of Bupa’s care home business, HealthInvestor understands.
18/01/2017
HSBC has provided care home provider Colten Group with a £41 million debt facility to fund further expansion.
17/01/2017
Complex care provider Badby Park has acquired South Park Care Centre in Darlington out of administration for an undisclosed sum.
17/01/2017
Mark Salter has left his post as senior partner at private equity house Bowmark capital.


Alix Partners


In the first part of HealthInvestor's special report on Asian healthcare, Ploy Radford reflects on the key findings of HealthInvestor Asia's first ever Summit at the Singapore Stock Exchange
Read more...


Doctify chief executive Oliver Thomas tells HealthInvestor about how the booking app can improve transparency and access to specialist doctors
Read more...


Christie + Co

National living wage, huge M&A deals and arguably a tipping point for digital healthcare has made 2016 memorable for more than just politics
Read more...


A new report proves providing patients with more options for their healthcare is the healthiest choice, finds Emma Dent
Read more...



HealthInvestor blog
Embrace the New Year as an opportunity to promote equality in the workplace, right to the top, argues Ploy Radford

Click here to view the Editor's blog


Dr Alison Rose-Quirie is the chief executive of Swanton Care & Community
Candesic doctors Michelle Tempest, Michal Wlodarski and Joe Taylor consider the impact of the inexorable rise in antimicrobial resistance
Clare Connell and Henry Hunt of Connell Consulting investigate how fish waste can benefit the healthcare industry
A new report proves providing patients with more options for their healthcare is the healthiest choice, finds Emma Dent
National living wage, huge M&A deals and arguably a tipping point for digital healthcare has made 2016 memorable for more than just politics

Click here to search all feature articles












Search news
and features



Go