Private equity firm Cinven has won the £1.44 billion auction for Bupa UK's 25 private hospitals.
The sale of Bupa Hospitals will have no impact on Bupa's insured customers, who will continue to have access to the full network of over 200 high quality hospitals across the UK, including the former Bupa hospitals.
Cinven has significant experience in the private healthcare market. It currently owns Partnerships in Care (PIC), the UK’s leading provider of specialist mental health and related services that operates 940 beds in its 17 facilities around the UK.
Val Gooding, Chief Executive of Bupa, says: “We are very proud of our hospitals business which we have built up over three decades. The reason we invested in hospitals in the 70s was because there was insufficient capacity of the right quality for privately insured patients. Since then there has been a significant increase in the number of quality private hospital facilities - with a choice in most localities. Our UK insurance customers will, of course, still have access to the same range of hospitals that they have always had.”
Private medical insurance: News update: June 2007
