PHP defeats KKR in takeover battle for NHS landlord Assura
Shareholders backed PHP's £1.8billion takeover of Assura, despite KKR's plea last week for the board to reconsider.
Investors owning nearly 63 per cent of Assura's shares had voted in favour of the merger by yesterday afternoon, making the offer 'unconditional'.
The vote ends a long-running tussle to buy the NHS landlord, which owns surgeries, hospitals and hospices.
Assura will delist from the stock market as soon as possible, the companies said yesterday.
But the deal still faces hurdles after the competition watchdog last week stepped up its probe into the tie-up.
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The Independent
12 minutes ago
- The Independent
Boy with fragile skin disorder given hope after new treatment
A boy with a rare skin condition which can cause damage with even the smallest amount of friction has been given hope after taking part in a trial for the first potential treatment for the genetic disorder. Gabrielius Misurenkovas, 12, from east London, was diagnosed with an inflammatory disease called recessive dystrophic epidermolysis bullosa (RDEB) when he was a baby. Many symptoms of the painful condition have been alleviated thanks to a new trial in which he received certain stem cells via an intravenous drip. The rare genetic disease is severely debilitating. People with the condition have extremely fragile skin which is easily damaged, leading to blistering, deep wounds and scarring. About 150 children in the UK are affected by RDEB, which is painful and causes itchiness. With no disease-modifying treatment available, patients and their families manage symptoms by dressing wounds and applying eye ointments. Over time, the condition can lead to severe complications and many patients with the condition develop a type of skin cancer called squamous cell carcinoma when they are young adults – this is the most common cause of death for RDEB patients. Gabrielius has been under the care of medics at the world-renowned children's hospital Great Ormond Street (GOSH) since he was a baby. He said he jumped at the chance to join the clinical trial when it was suggested by his doctors. 'I wanted to take part in the trial as I was excited to see if it could help improve my condition and so I could do more of the things I enjoy, like playing football and spending time with my friends,' he said. The youngster, who can speak three languages and is a big fan of footballer Lionel Messi, needed his bandages changing three times a day, or more if he was injured. His mother, Jolita Cekaviciene, said: 'Gabrielius did really well on the trial. 'His wounds healed quicker, and his skin was less red and inflamed. 'His skin was also less itchy which also reduced him scratching. 'His sleep was also less disturbed as he didn't need to have his special wound dressings changed as often, so this was a great benefit.' She said Gabrielius has managed to do a few things that he was not able to before the treatment, including taking part in some sports at school, riding his bike in the park on the grass, and being able to play football with his friends, with a soft ball. Ms Cekaviciene said the trial has given her son more freedom than before, but he still needs to be careful in any activity to avoid falling over or bumps. Gabrielius was referred to GOSH as a baby after medics spotted a wound when he was born, and he was diagnosed with RDEB when he was two weeks old. Ms Cekaviciene said: 'The first two years were really hard as you had to watch him constantly – even rubbing his eyes could cause painful blistering. 'He couldn't even tell us how much pain he was in or where he was hurting.' RDEB is a genetic condition which is caused by a fault in the gene that makes a protein which holds layers of skin together – collagen VII. Medics wanted to assess whether regular infusions with mesenchymal stromal cells (MSC) improved symptoms for children with the condition, after studies suggested that MSC treatments could promote wound healing, reduce inflammation and stimulate tissue regeneration. In the trial, funded by NHS England, the National Institute for Health and Care Research and the charity Cure EB, children were given a treatment called CORDStrom, manufactured by INmuneBio. Gabrielius is one of 30 children who took part in the new clinical trial at GOSH and Birmingham Children's Hospital. Patients would go into hospital and have a drip which delivers the cells over 10 to 15 minutes. In the study patients were split into two groups, about half were given the treatment, which is made from umbilical cord tissue, as an infusion, twice over two weeks. The other half were given a placebo, also known as a dummy drug. They then had a nine-month gap, known as a wash-out period, where the group that were initially given the dummy drug were given the treatment, while the group that received therapy first were given a dummy drug. The study, published in the journal eClinicalMedicine, reported a positive outcome of the treatment. The largest effects were in children under the age of 10, and in the children with intermediate type of RDEB. Families involved in the study reported a positive impact on daily life and well-being, with a reduction in both pain and itching. The treatment was said to be well tolerated by the children. INmuneBio have agreed to provide CORDStrom free of charge for a year for all children who took part in the trial, so researchers can continue to study them, and patients are expected to get two infusions of the treatment every four months. The company is seeking regulatory approval for the treatment so it can be approved for use in the UK and other countries. Chief investigator of the study, Dr Anna Martinez, paediatric dermatologist at GOSH, said: 'Our study has demonstrated that CORDStrom was safe and can help reduce disease activity in some patients with RDEB. 'Administering the treatment early and at regular intervals appears to reduce itch and improve wound healing, which over time we hope will reduce inflammation, modify the condition and may reduce over time the future risk of squamous cell carcinoma. 'It's fantastic to see how the patients, like Gabrielius, had improvements in their symptoms and their quality of life.' She added: 'The 12-month open label study will allow us to collect more data to hopefully show an increased benefit from treatments administered in children and young people with RDEB, to continue research in support of the treatment being rolled out more widely.' Sharmila Collins, founder trustee of Cure EB, said: 'Since funding the first trial and by contributing to Mission EB we have been working towards bringing MSC infusions forward for all children in the UK with RDEB. 'We hope these cells will become part of routine clinical care to alleviate the significant suffering of children with this condition.'
The Independent
42 minutes ago
- The Independent
Economic uncertainty blamed for ‘lacklustre' retail performance last month
Analysists have blamed rising economic uncertainty for a 'lacklustre' July that saw Scottish retail sales fall in real terms compared with the same month last year. According to figures from the Scottish Retail Consortium (SRC) and KPMG, total sales in Scotland rose 0.1% last month compared with July 2024, when they had decreased by 0.9%. However when adjusted for inflation this represents a year-on-year fall of 0.5%. Food sales in Scotland were down 1.4% compared with July 2024, when they had decreased by just 0.3%. This was despite a strong opening to the month when hot weather led to a 'boost' in spending on barbecues and summer meals. Non-food sales on the other hand rose by 1.4% compared with the same period last year, with analysists saying phones and some furniture and toy ranges performed well. Adjusted for the effects of online sales, non-food sales increased 1.6% on July 2024, when they had decreased by 1.5%. Ewan MacDonald-Russell, deputy head of the SRC, said: 'July was a lacklustre month for Scottish retailers as sales again disappointed. 'When adjusted for inflation retail sales in Scotland fell by 0.5%. That's a slight improvement on June's figures, but demonstrates shoppers continue to cut back on shopping as economic uncertainty continues to rise. 'Within the general disappointment there were some bright spots. Food sales shone in the opening half of the month as Scots took advantage of the warm weather to cook barbeque and summer meals. 'Phone sales did well, as did some toys and furniture ranges. Against that televisions continue to disappoint, with few households investing in high-end entertainment despite the summer plethora of sporting events. 'Fashion ranges performed poorly, albeit the likelihood is shoppers did their summer wardrobe shopping earlier in the year when the sunshine emerged. 'The harsh truth is Scots are holding back spending as worries about the economy grow. 'That is leaving shops in the lurch – facing higher costs as a consequence of last year's UK Government budget without the growth needed to pay those bills. 'With little sight the economic weather will brighten, many retailers, especially those on the high street, face increasingly unpalatable choices in the coming months.' Linda Ellett, UK head of consumer, retail and leisure at KPMG, described the current trading environment as 'challenging' for retailers. 'The UK's fifth warmest July on Met Office record brought a boost to home appliance and food and drink sales,' she said. 'But rising inflation was also a driver of the latter and monthly non-food sales are only growing at around 1% on average at present. 'With employment costs having risen and inflation both a business and consumer side pressure, it remains a challenging trading environment for many retailers. 'While the majority of consumers that KPMG surveys are confident in their ability to balance their monthly household budgets, big ticket purchases are more considered in the context of rising essential costs and ongoing caution about the economy and labour market. 'Holidays are the priority for many this summer but those heading away have had to account for a higher cost of travel. 'Consequently, spending in some areas of the retail sector remains subdued and competition for consumer spend will remain fierce.' The figures were published in the SRC-KPMG Retail Sales Monitor for July.
The Independent
42 minutes ago
- The Independent
Government teams up with TikTok influencers over cosmetic surgery warnings
New government plans will see social media influencers highlight the risks of travelling abroad for cosmetic procedures, including hair transplants and dental work. Ministers hope the campaign, in partnership with TikTok, will help people make "more informed choices before they go under the knife." Medical influencers, such as Midwife Marley and Doc Tally, will create videos showing the dangers. The content will urge patients to speak to a UK doctor first and avoid package holidays that include procedures. A checklist will also be provided, advising patients to check surgeon credentials, clinic regulations, and understand aftercare before booking. This initiative forms part of a wider government drive to tackle so-called "medical tourism" and ensure the NHS is not left to foot the bill when complications arise. Health minister Karin Smyth said: 'Too many people are being left with life-altering injuries after going abroad for medical procedures, without access to proper advice or safeguards. 'Often drawn in by deals too good to be true and promoted by influencers – some of whom have never been to the practice in question. 'By partnering with TikTok, we're helping people make safer, more informed choices before they go under the knife – wherever that may be.' Foreign Office minister Stephen Doughty said: 'Our aim is to explain the risks and help British people understand the actions they can take to keep themselves safe when abroad. 'If you choose to travel abroad for medical treatment, it is vital you do your research and are fully aware of the risks involved. 'We urge anyone considering a medical procedure abroad to review our travel advice, relevant guidance from the NHS and other professional bodies, and research foreign providers thoroughly to ensure they meet the highest standard of care. 'Informed choices today can help avoid serious complications tomorrow.' The initiative comes after ministers outlined plans to cut down on 'cowboy' cosmetic procedures by introducing new restrictions. Earlier this month, the Department of Health and Social Care unveiled proposals which include only allowing 'suitably qualified' and Care Quality Commission-regulated health workers to deliver high-risk procedures such as Brazilian butt lifts. Elsewhere, clinics offering Botox and fillers will need licences, and age restrictions will be introduced to prevent children from trying to follow 'dangerous beauty trends on social media'. Those who break the rules will face sanctions, including financial penalties, officials said.
