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Bupa acquires the Cromwell Hospital17 March 2008Bupa, the leading health and care company, today announced the acquisition of the Cromwell Hospital in London for £90 million as part of a plan to create a flagship private hospital in the capital. It will be known as the Bupa Cromwell Hospital. The Cromwell Hospital is renowned for being the first to invest in some of the UK's leading edge equipment and cancer services. It also has particular expertise in neurosciences and paediatrics. Around 600 consultants practise there, mainly drawn from London teaching hospitals, covering 70 different specialties. Out-patient services include private GPs, health screening and a walk-in family medicine and diagnostic centre. The 128-bed hospital has a large and loyal UK and international clientele, many of whom travel long distances to receive treatment. It admits both self-pay and embassy sponsored patients and those funded by medical insurance. Fergus Kee, managing director of Bupa UK Health Insurance said: "Private patients tell us they want more high quality private health services in London. We believe there is tremendous opportunity to introduce modern, innovative ways of delivering healthcare in the capital offering high levels of customer service, clinical excellence and more cost effective care. "We will be investing a further £30 million in the Cromwell Hospital over the next two years to create a centre of excellence for private patients. "Bupa originally entered the private hospital market because of a shortage of private hospital beds in the 1970s. This is no longer the case outside London. This was one of the reasons for selling Bupa hospitals in 2007. For many years, Bupa has been looking for the right opportunity to have a flagship hospital in London. Until now, that opportunity has not arisen," he said. Shamus and Francis Jennings, owners of Ballyrogan Holdings Ltd, majority shareholders of the Cromwell Health Group said: "Over the last couple of years we have concentrated on introducing sound commercial efficiencies to complement the world-class clinical attributes already well established at the Cromwell Hospital. “That job done, the time is now right for the hospital to move into a new phase of development and as such we are delighted to transfer ownership to Bupa who have pledged to make further investment. We would like to thank the team of 550 staff and 600 consultants for their unstinting dedication and professionalism during our stewardship and convey our very best wishes to them going forward." Hume Martin, CEO, Cromwell Hospital said: "Bupa’s health expertise and the stability that will come from being part of the Bupa Group will enable the hospital to fulfill its potential in London." Back to the latest press releases
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