Nuffield raises £330m to help it grow

PRIVATE hospital firm Nuffield, which has operations across Yorkshire, has raised £330m to help it build more hospitals and buy gyms.

Nuffield has secured the extra funding from a combination of banks and institutional lenders, to support its long term strategy.

Institutional investors, Pricoa Capital Group, and the Metropolitan Life Insurance Company have provided long-term fixed-rate loans of 10 and 12 years to the charity. Existing bank lenders Barclays, RBS and Santander were joined by HSBC and Siemens Financial Services, and provided seven year committed bank facilities.

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A Nuffield spokesman said: “The organisation is looking to extend its reach in other geographical areas, but the only confirmed new hospital will be in Manchester.”

Greg Hyatt, Nuffield Health chief financial officer, said: “Receiving investment from a mix of banks and institutional lenders is a first for Nuffield Health, and follows on from the launch of our retail bond last year.”

Nuffield Health has hospitals in Leeds and York, and gyms across Yorkshire in towns such as Harrogate, Guiseley and Shipley.