Circle health care

Anyone know more about this company? Circle?

For I\’ve had a look and as far as I can see it\’s a workers\’ co-op. Owned by the people that work in it.

Which makes this allegation quite strange:

Two of Circle’s major shareholders are Tory Party donors.

What shareholders?

Or is the structure of Circle more complex than it first appears? Say, perhaps, a financing side owned by outside shareholders, plus an operating unit owned by staff?

Anyone know, care to unravel it for us?

12 comments on “Circle health care

  1. Circle, the healthcare management bit, is half a co-op called Circle Partnership and half privately owned by Circle Holdings. The private half is part-listed on the Stock Exchange (CIRC.L) [1]. So two Tory donors could well be shareholders, as could anyone and his dog. But they’re not saying how large the beneficial interest is, and I bet that’s because it’s quite small. The major shareholders are all investment firms and they account for practically the entire float.

    Basically, “more complex than it appears” is putting it mildly, but “less worrying than LibCon thinks” is a given.

    [1] http://www.circleholdingsplc.com/about-us

  2. Yep, the shareholders are
    Balderton Capital – 16.9%
    BlackRock – 12.9%
    BlueCrest Venture Capital Finance Master Fund – 14.7%
    Health Partners Limited – 5.0%
    Lansdowne UK – 28.9%
    Odey – 16.6%

    Totalling 95%, so the two major tory party donors are minnows unless LibCon are saying that the investment firms are owned and controlled by Tory party donors, which is possible.

  3. Phillip, I think they are both fundamentally the same (at least, that’s true for this current incarnation of ‘Toryism’).

    So when LibCon starts jumping up and down about one, but never uttered a peep about the other, yes, I’m going to call them on it.

  4. a workers’ co-op

    hahahahahaha.

    Oh, don’t worry. The staff at Hinchinbrooke won’t be permitted to sully the purity of the Bevanite dream, they’re required to remain on NHS Ts & Cs.

    But, seriously, just because the first company to be given a contract to run a hospital isn’t one of the Goliaths of the US healthcare sector, you need to reject the reality of the nature of the company that does have the contract? This visceral tribalism is reminiscent of Glasgow on a bad Sunday.

  5. Suppose this will be another triumph for private sector-ism like the railways. However Circle’s spokesman can certainly talk the talk.

  6. “This visceral tribalism is reminiscent of Glasgow on a bad Sunday.”

    Well yes, this is the NHS. What on earth did you expect?

  7. Guido has just posted a scan of an email dated Feb 2010 from Tessa Jowell inviting Circle to a meeting with Ed Milliband at No. 10 to “discuss the future role of co-operatives…”.

    🙂

  8. visceral tribalism

    Bollox – it’s hardly visceral tribalism to recognise that this is a (probably loss-leading) stalking horse for future privatisation. And one that will be reliant on NHS infrastructure and an NHS trained workforce, at that.

    As for Circle’s pompous ‘credo’ and homely PR puffery, Gawd spare me.

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