A PRIVATE hospital run by nuns in Newport has been sold to an independent hospital provider as part of a £10m deal.
St Joseph’s Hospital Limited completed the acquisition of St Joseph’s Hospital from The English Province of the Sisters of St Joseph of Annecy on July 11 and expects to create a “significant” number of new jobs.
Out of the £10m deal, the Sisters of St Joseph of Annecy will receive just under £3 million for the sale of the hospital.
St Joseph’s Hospital, on Harding Avenue, Malpas, has been run by the Sisters since 1946.
It comes just over a year after control of St Anne’s Hospice, which was also run by the sisters, was handed over to St David’s Hospice Care.
The hospital, which employs 150 people including bank staff, provides a range of services and treatments, including health screening and pathology.
Brian Staples, chairman of St Joseph’s Hospital Limited, said: “We are delighted to have completed the purchase of St Joseph’s Hospital from the Sisters of St Joseph who developed the hospital and ran it successfully for many, many years establishing a track record of clinical excellence delivered in a totally caring and friendly atmosphere. We fully intend to maintain and build upon the Sisters’ legacy.”
He added: “Our plans for the hospital are extensive, but quite simply we intend to develop St Joseph’s to become the leading private sector hospital in South Wales, through investment in new equipment and the addition of new services, which we will announce in due course.”
St. Joseph’s Hospital was acquired in a £10 million deal by a consortium that includes 43 of the hospital’s existing consultants as well as new investors.
HSBC’s Cardiff and South East Wales commercial team provided a £6.2 million finance package to support the acquisition and costs relating to the upgrading of the hospital. The funding has been allocated from HSBC’s £400 million SME fund specifically for businesses in Wales.
Alongside the investing consultants, the majority shareholders acquiring the business are Mr Staples, Paul Jenkins and Rohit Kulkarni. Mr Staples is chairman of the European Scanning Centre, an advanced medical imaging company based in Harley Street in London.