The story
BMI Healthcare was formed in 1970, when US hospital group AM(E) acquired its first hospital in the UK, the Harley Street Clinic. By 1983, the now AMI group had grown to 13 hospitals and by 1988 had created a psychiatric division, health services division and floated on the London Stock Exchange.
In 1990, AMI was purchased by then Generale des Eaux. AMI was renamed BMI Healthcare in 1993 and its new corporate group named General Healthcare Group. In 1997 funds managed by Cinven acquired GHG. After a further period of expansion GHG merged with Amicus Healthcare group in 1998 and the group grew its portfolio to over 40 hospitals.
In 2000, Cinven sold its investment to funds advised by BC Partners and in 2005 BMI Healthcare's health services, Occupational Health division was sold to the Capita Group. GHG was bought from BC Partners by a consortium led by Netcare (Network Healthcare Holdings Limited), a large South African Healthcare company, in 2006. In April 2018, Netcare announced it was to sell its 57% stake because it had failed to conclude a rent reduction transaction with the largest landlord on 35 of its 59 hospital properties. In October 2018, it was announced that it had agreed a deal with its creditors and landlords, including Hospital Topco, which involved injecting capital of at least £58 million, extending the company's bank facilities to 2024 and reducing annual rent by £65M. This would bring its operations and 35 hospitals back under common ownership.
In 2011, Stephen Collier was appointed chief executive. BMI showed a strong performance in its 2013 financial year, with revenue up by 2.1% (to £851.3M). In October 2017, Karen Prins was appointed chief executive officer. Prins was an appointment from parent company Netcare based in South Africa.
In November 2019, it was reported that Circle Health, a smaller competitor, planned to acquire the company.
From Wikipedia’s article on BMI Healthcare, shared under CC BY-SA 4.0.4