Reuters – Britain’s General Healthcare In Talks to Restructure $3B Debt
Lenders to Britain's General Healthcare Group are in talks to restructure its around 2 billion pounds ($3.1 billion) of debt, in a process which threatens to leave them nursing heavy losses, Reuters reported. The company, one of Britain's largest independent healthcare services providers, was bought in 2006 by a consortium comprising Apax Partners, Brockton Capital, London & Regional Properties and Netcare. The latter subsequently bought Brockton's share of the business, bankers said. The 2006 deal was backed by 2 billion pounds of borrowings, split 315 million at the operating business - known as BMI Healthcare - and 1.65 billion at the property arm, according to Thomson Reuters LPC data.
12 February 2013•3 mins read
