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

25/05/2016
NHS trusts’ agency staffing overspend reached £26.6 million in the nine weeks that followed the introduction of the second phase of the government’s locum rates caps, latest figures indicate.
24/05/2016
Primary healthcare property investor MedicX Fund has announced a 213% uplift in shareholder returns on the previous year to 16.9% for the six months ended 31 March 2016 (2015: 5.4%).
24/05/2016
The UK’s largest care home provider Four Seasons Health Care Group has announced increases in revenue and ebitda in financial results for the three months ended 31 March 2016.
24/05/2016
Private equity firm Sovereign Capital has backed a management buyout (MBO) of Xendo, a life sciences consultancy.
23/05/2016
At least 17,000 staff have transferred from the NHS to independent sector providers since 2010, according to new research.




Voyage’s new CEO Andrew Cannon tells Ploy Radford the operator is in a good place for raising its profile in the LD space
Read more...


Christie+Co

Northern Ireland is often overlooked as an area for investment in care, but the integrated model of care so many wish for in England is in place already in the region, finds Luke Cloherty
Read more...


The creation of NHS Improvement could see private sector opportunities dwindle, argues Thomas Cawston
Jungle Production co-founder Allan Johnston tells HealthInvestor about how his production company is helping the healthcare sector
Bridgepoint Development Capital has built upon its dental and European roots with Acteon acquisition
Clare Connell and Charlotte Bushnell of Connell Consulting analyse the efficiency of the new agency cap
London Care Partnership has successfully tapped into the South West London specialist care market. Ploy Radford hears about the key to its success

Click here to search all feature articles