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The Independent
21 minutes ago
- The Independent
Competition watchdog to investigate takeover of NHS landlord Assura
The UK competition watchdog has said it is investigating the proposed takeover of NHS landlord Assura. Last month, rival healthcare property firm PHP (Primary Health Properties) put forward a fourth takeover offer for Assura worth £1.79 billion following a lengthy bidding war. PHP had previously laid down a £1.68 billion bid in May but was outbid by a rival suitor, with a consortium led by US private equity firm KKR valuing the business at £1.7 billion. Bosses at Assura backed the £1.79 billion deal, suggesting the increased scale of the combined business would benefit shareholders of both companies. On Friday, the Competition and Markets Authority (CMA) said it is now 'investigating' the deal to gather information and could launch a formal phase one investigation. It said the companies and others potentially impacted by the deal have two weeks to provide submissions regarding the move. The regulator said it is looking at whether the takeover 'may be expected to result in a substantial lessening of competition' in the healthcare sector. Following submissions, the regulator will then decide whether the deal is in the jurisdiction of the CMA to complete the phase one probe and then whether a more thorough investigation needs to take place. PHP's rival bidder KKR had cautioned that the deal, which is combining the two largest UK healthcare real estate firms, could attract scrutiny from the CMA. Assura owns more than 600 buildings, including doctors' surgeries, with a portfolio valued at around £3.1 billion. It has about 80 members of staff.
BBC News
an hour ago
- BBC News
Faversham hospital's inpatient service paused for a month
An NHS trust in Kent has paused the inpatient service at one of its hospitals for a month to maintain safe staffing to Kent Community Health NHS Foundation Trust's Faversham Cottage Hospital were paused on 27 June due to a rising number of nursing vacancies and sickness, particularly in critical leadership trust later made the decision to not reopen to admissions and to temporarily stop the inpatient service while a full review of staffing was carried McCormick, the trust's chief executive, said: "This is not a decision we have taken lightly. Our priority is, and always will be, the safety and wellbeing of our patients, staff and volunteers." All other services at the hospital, which provides rehabilitation for patients, are McCormick said: "During the past couple of months we have been working hard to bolster staffing; transferring colleagues from alternative hospitals, recruiting to vacant posts, supporting staff to return to work and using our bank and agency workforce."Despite these efforts, it is no longer sustainable to continue to use a temporary workforce and re-deploy staff from our other hospitals, placing other services at risk."The trust says it will work with staff and partners to minimise disruption and offer alternative temporary roles to allow more people to receive care in their own homes or at other community hospitals. 'It must reopen' Faversham and Mid Kent's Conservative MP Helen Whately says she is "deeply concerned" about the future of the added: "Of course the hospital needs to be safely staffed, but there should have been warnings to the community before now if it was at risk. "The Cottage Hospital is an integral part of Faversham and it must reopen."The trust, which has been contacted for more information, has committed to reviewing its decision within a month.
The Independent
an hour ago
- The Independent
Competition watchdog to probe takeover of NHS landlord Assura
The UK competition watchdog has launched an investigation into the proposed takeover of NHS landlord Assura. Last month, rival healthcare property firm PHP (Primary Health Properties) put forward a fourth takeover offer for Assura worth £1.79 billion following a lengthy bidding war. PHP had previously laid down a £1.68 billion bid in May but was outbid by a rival suitor, with a consortium led by US private equity firm KKR valuing the business at £1.7 billion. Bosses at Assura backed the £1.79 billion deal, suggesting the increased scale of the combined business would benefit shareholders of both companies. On Friday, the Competition and Markets Authority (CMA) said it has now launched a 'phase one' investigation into the deal. It said the companies and others potentially impacted by the deal have two weeks to provide submissions regarding the move. The regulator said it is looking at whether the takeover 'may be expected to result in a substantial lessening of competition' in the healthcare sector. Following submissions, the regulator will then decide whether the deal needs to go to a more thorough phase two probe. PHP's rival bidder KKR had cautioned that the deal, which is combining the two largest UK healthcare real estate firms, could attract scrutiny from the CMA. Assura owns more than 600 buildings, including doctors' surgeries, with a portfolio valued at around £3.1 billion. It has about 80 members of staff.
