Hospitals group BMI Healthcare hit by investigation

 
Reprieve: hospitals will not be sold
Nick Goodway19 May 2014

Britain’s biggest private hospitals group, BMI Healthcare, saw its profits almost halved last year after a massive investigation into the industry by the Competition Commission.

BMI was initially ordered to sell seven of its 66 hospitals but this year the new Competition and Markets Authority dropped that order.

However BMI chief executive Stephen Collier, who spent much of 2013 battling with the competition authorities, said: “The uncertain industry backdrop has been exacerbated by the Competition Commission review which, although it ultimately reached a sensible, measured and fair conclusion, was a significant distraction for BMI Healthcare throughout the period.”

BMI’s operating profit for the six months to end-March dropped from £6.7 million to £3.6 million on revenues up 4% at £447 million.

Collier said: “Overall caseload showed marginal growth on a like-for-like basis and there is also an increasing contribution from BMI Healthcare’s outpatient activity.”

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