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11/11/2010
Health And Social Care Provider Up For Sale
A provider of information, analysis and communications to health and social care organisations, will be marketed for sale, the Department of Health and Dr Foster Holdings LLP have announced today.
The announcement follows a review of strategic options for the business, announced in August 2010.
Dr Foster Intelligence, a commercial company, owned by shareholders will be sold off.
The company was established in 2006 as a joint venture between the NHS Information Centre and Dr Foster Holdings LLP. The NHS Information Centre transferred its shareholding to the Department of Health last July.
Currently, the Department of Health owns a 48.75 per cent stake in Dr Foster Intelligence, with 51.25 per cent held by Dr Foster Holdings LLP.
The decision to market the business for sale comes after the Government's Spending Review framework in June which urged Departments to focus on essential activities, maximise value from assets that do not need be held in the public sector, and ensure value for money for the taxpayer.
The White Paper Equity and Excellence: Liberating the NHS also committed to increasing the availability of robust and independent healthcare information for patients to help drive better care, improved outcomes and reduced costs.
The Department of Health and Dr Foster Holdings LLP will sell all shares in Dr Foster Intelligence, making it completely independent of Government. Selling all the shares together rather than individually will make it more attractive to potential buyers and provide the current shareholders with the best value for their investment.
Health Minister Simon Burns said: "Organisations should be free to innovate and present data, and the Government should ensure that it is maximising the value of its assets.
"As our reforms set out, more comprehensive and transparent information, including patients' own ratings, is vital for true choice - without it, patients and service users cannot make informed choices and take control of their care."
Dr Foster Intelligence Chief Executive, Tom Moloney said: "All parties believe that an independent Dr Foster Intelligence will be best placed to help its customers and stakeholders implement the information revolution called for in health services, and we will work together in the coming months to ensure an effective and robust sale process."
(BMcN/GK)
The announcement follows a review of strategic options for the business, announced in August 2010.
Dr Foster Intelligence, a commercial company, owned by shareholders will be sold off.
The company was established in 2006 as a joint venture between the NHS Information Centre and Dr Foster Holdings LLP. The NHS Information Centre transferred its shareholding to the Department of Health last July.
Currently, the Department of Health owns a 48.75 per cent stake in Dr Foster Intelligence, with 51.25 per cent held by Dr Foster Holdings LLP.
The decision to market the business for sale comes after the Government's Spending Review framework in June which urged Departments to focus on essential activities, maximise value from assets that do not need be held in the public sector, and ensure value for money for the taxpayer.
The White Paper Equity and Excellence: Liberating the NHS also committed to increasing the availability of robust and independent healthcare information for patients to help drive better care, improved outcomes and reduced costs.
The Department of Health and Dr Foster Holdings LLP will sell all shares in Dr Foster Intelligence, making it completely independent of Government. Selling all the shares together rather than individually will make it more attractive to potential buyers and provide the current shareholders with the best value for their investment.
Health Minister Simon Burns said: "Organisations should be free to innovate and present data, and the Government should ensure that it is maximising the value of its assets.
"As our reforms set out, more comprehensive and transparent information, including patients' own ratings, is vital for true choice - without it, patients and service users cannot make informed choices and take control of their care."
Dr Foster Intelligence Chief Executive, Tom Moloney said: "All parties believe that an independent Dr Foster Intelligence will be best placed to help its customers and stakeholders implement the information revolution called for in health services, and we will work together in the coming months to ensure an effective and robust sale process."
(BMcN/GK)
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