Harley Medical Group has gone into administration and all its staff and clinics have been transferred to a new holding company, Aesthetic and Cosmetic Surgery.
The business will still operate under the same name and with the same board of directors.
Turnaround specialists RCapital acquired the business, brand and assets of the Harley Medical Group and aided with this restructuring.
Critics believe this move was made so Harley Medical Group could avoid any further legal action being brought against them by patients fitted with PIP implants, which were revealed in 2011 to be faulty. The liabilities incurred by the faulty implants are not transferred to the new company.
The cosmetic surgery provider has denied taking this action to avoid further claims and said the cost of replacing implants where there was a medical need, meant the business would have been “unable to continue” without restructuring and new investment.
Patients who are scheduled to have their PIP implants removed will still be able to have the procedure done.
Harley Medical Group appointed administrators Leonard Curtis on 9 November.
In December 2011 French authorities recommended that all women with breast implants made by firm Poly Implant Prothese should have them removed as it was found the implants were made with silicone intended for industrial use rather than medical use.