Fri, 12 Nov 2010 | DIVISION SALE
A health and social care information and communications company is to be marketed for sale, according to the Department of Health and its holding company.
Dr Foster Intelligence will be sold off following a review of strategic options carried out this year by holding company, Dr Foster Holdings LLP. The information and analysis firm had been founded in 2006 in a joint venture with the NHS Information Centre.
The decision to sell the commercial company, which is owned by shareholders, was taken after the Government's Spending Review encouraged departments to prioritise essential activities and obtain as much value as possible from assets that do not need to be in the public sector.
Dr Foster Intelligence is partly owned by the Department of Health - which has a 48.75 per cent stake - with the rest owned by Dr Foster Holdings LLP. The sale of the Department of Health shares will make it completely independent of the government.
The company recored revenues of £22.1 million and pre-tax profits of £2.3 million in the year to 31st December, 2009.
Dr Foster Intelligence chief executive, Tom Moloney, said he was anticipating a successful and substantial sale. "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," he said. "We will work together in the coming months to ensure an effective and robust sale process."
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