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Karol Sikora's Rutherford Health Plc has today done a £55m deal with Equitix, an asset fund, to develop private diagnostic services to sell to the NHS.
It is stated that there is an agreement in place with an unnamed NHS Trust which will be revealed once a special purpose vehicle (SPV) has been set up.
(A SPV is essentially a shell which can be used to isolate a company or organisation from financial risk or for the disposing of assets. They have been used previously in Private Finance Initiative deals.)
In the deal Rutherford Plc is partnering with Equitix. We are told "healthcare is now its largest sector for investment, representing over 39% of its total portfolio"
One of the ways Equitix makes money is by accumulating UK public assets. On being acquired by the US-based Tetragon Financial Group in 2014, TFG stated that Equitix had "raised over £3 billion of debt and equity since inception in 2007" prnewswire.co.uk/news-releases/…
Talking about the deal with Rutherford Plc, Geoff Jackson, Chief Executive Officer of Equitix, commented that as part of the deal he is pleased to be adding these healthcare assets to their institutional investment portfolios.
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