An agency that employs NHS doctors and nurses outside their contracted hours has been bought by private equity firm Fremman Capital, in a bet that growing waiting lists will stoke demand for specialist staff and services.
UK-based Medinet, which markets itself as helping NHS organisations to reduce waiting times, has been sold by Volpi Capital to Fremman Capital for an undisclosed sum.
Private equity has growing reach in the UK health system, having expanded into private hospitals, recruitment agencies, child and elderly care, foster and mental health services. Volpi and Fremman did not respond to requests for comment.
The Medinet deal comes amid an acute staff shortage in the NHS and a wave of industrial action by employees demanding higher pay. Nearly 48,000 junior doctors are planning the longest ever walkout with a five-day strike from July 13.
Medinet is one of about 20 providers of “insourcing”, which involves agencies signing up NHS staff and finding them work outside their regular hours to treat patients on NHS premises. One of Medinet’s competitors, 18 Week Support, was bought by US private equity firm Summit Partners last year.
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Source: FT
Date: 18 July