ST Joseph's Hospital Limited (09040210): administration
- Status
- Administration ended
- Administration began
- 2020-02-14
- Administrators
- Mark Robert Fry, Gary Paul Shankland
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2014-05-14
- Location
- London
- Industry
- 86101 Hospital activities
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Bad debts / customer insolvency
From the administrators' statement
The Company is a provider of medical/healthcare services operating from freehold premises situated at Harding Avenue, Newport, Gwent NP20 6ZE (‘the Property’). The Company, which traded as ‘St Joseph's Hospital’ (“the Hospital’) was incorporated in 2014 to acquire the Property from the English Province of the Sisters of St Joseph of Annecy (“the Sisters”). The Company is registered with Health Inspectorate Wales (“HIW”) and the General Medical Council (“GMC”).
St Joseph’s Hospital is a private hospital, specialising in joint replacement, Ophthaimics and some cosmetic surgery. There is also provision for some General Practitioners. The day to day business is carried out in three primary buildings — the main hospital, Physiotherapy and Outpatients. There are circa 160 leading (medical) consultants currently registered with the Hospital (‘the Consultants’).
Following the acquisition of the Hospital in 2014, over the next three years it was expanded and modernised. This was funded in the main, by facilities provided by HSBC Bank plc (“the Bank’), together with shareholder funding from its principal founding shareholders. In addition, over a number of years the Company also entered into a number of hire and maintenance agreements with Medical Imaging Partners LLP (“MIP”). In addition, MIP provided funding for certain building works and other costs (collectively “the MIP Agreements”). Two of the three founding equity shareholders of the Company are partners in MIP. Subsequently in 2016, a number of the Consultants provided equity funding which expanded the shareholder base of the Company (“the 2016 Share Raise’).
Administrators' statement of proposals (2020-02-21) · Companies House register