Jon Moulton, the maverick investor who runs UK mid-market private equity firm Alchemy Partners, has put £12 million (€17.3 million; $24 million) of his own money into funding the development of Winthrop Hall, a purpose-built 25-bed residential drug and alcohol treatment centre near Maidstone in Kent.
Moulton has initiated the project and is its sole benefactor, having gifted the capital through his charitable trust. The trust owns the 27 acres of land on which the clinic has been built. Under a tax-efficient charitable scheme, Winthrop Hall is paying rent to the trust, which then reinvests the proceeds into running the facility. Speaking at a launch event in London yesterday, Moulton stressed the not-for-profit thrust of the project.
Winthrop Hall is a four-star facility aimed at affluent patients who can afford the £32,000 treatment. As part of a 12-step programme, addicts will spend six weeks at the centre and subsequently receive remote care and assistance for up to a year. The treatment is “evidence-based”, and Winthrop intends to produce research into drug addiction and the treatment of it, which as part of the philanthropic nature of the project will be made available to scientists free of charge.
60 staff have been recruited to operate the centre.
Moulton said he started the project because of a family-related personal interest in drug addiction treatment. The “poverty of service generally available to UK patients” gave him the idea of setting up a “centre of excellence in Britain”. He said: “We’ve hired the best people, and we know we can do better.”
Winthrop Hall is due to open in the coming weeks.