Treatment of your illness as earning opportunity continues
Richard Branson has sold his Virgin Care empire to large private equity firm Twenty20 Capital. Virgin, which has been rebranded to HCRG Care Group, has been awarded more than £2 billion since the Tories took over in 2010, more than any other private health firm.
A Twenty20 spokesperson said of the deal:
As an investor in healthcare services for more than 20 years, Twenty20 Capital is excited to support the company’s plans building on its strong market position, whilst growing its services to provide outstanding service to customers.
This acquisition is Twenty20 Capital’s seventh transaction this year and its fourth acquisition in the health and social services sector adding c. £260m of revenues to its growing portfolio of businesses.
‘£260m of revenues’ for the firm, of course, means millions taken out in profits that would otherwise have been available to spend on more healthcare if the NHS was providing the services itself on a non-profit basis.
The Tories, meanwhile, continue to press ahead with their legislation to remove oversight and transparency from NHS contract awards to private companies, despite recent scandals over millions awarded to friends, associates and lovers of Tory ministers.
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