Connell Consulting
HealthInvestor Intelligence
 
 
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

04/08/2015
Christie+Co has been appointed by Crown Care to find a potential buyer , HealthInvestor understands.
03/08/2015
Dental group Integrated Dental Holdings has announced it has officially rebranded as mydentist.
03/08/2015
Private medical insurance firm Bupa has launched a low cost, entry-level health insurance product to attract more customers.
03/08/2015
Outsourcing firm Capita is planning to cut nearly 1,000 jobs once it takes on the £400 million primary care support services contract it won from the NHS.
03/08/2015
The amount NHS foundation trusts (FTs) earn from private patients has increased 14% in the last two financial years.




Four Seasons Health Care’s financial performance over the past 12 months has made for bleak reading, but new division head Tim Hammond tells Ploy Radford he is warming to the task
Read more...
The Turkish healthcare market is buzzing with opportunities to delight European investors, finds Adrian Murdoch
Read more...
Simplyhealth’s exit from the PMI space marked a notable change of direction for the firm. Sunniva Davies-Rommetveit asks group CEO Romana Abdin what lay behind it
Read more...

Christie + Co
Saif Razvi, a consultant neurologist at NHS Scotland Health Boards, tells HealthInvestor about the NHS’ recent partnership with Quarriers, with which it jointly operates the William Quarrier Scottish Epilepsy Centre
How should private providers engage with an NHS under a Conservative majority, asks Richard Sloggett, associate director at Hanover Communications
Clare Connell and Hannah Hurley of Connell Consulting investigate the opportunities for investors north of the border
Jeremy Hunt has declared war on staffing agency prices. Ploy Radford asks whether temp agencies and their backers are in for a battle or not
The UK healthcare services market has seen a wave of new investors coming in. Will the trend continue at the expense of private equity or will it fight back, asks Kirsten Noben

Click here to search all feature articles