Hospedia Press Release
An exciting overhaul of the UK’s bedside hospital entertainment and telephony industry is announced today after the acquisition of Patientline UK Ltd.
Up to 10 million patients a year can now expect lower incoming call charges, better services and more reliable equipment as a result of the change.
The newly formed Hospedia Ltd will run over 80,000 NHS bedside systems across the UK currently operated by Patientline UK and Premier Telesolutions, subject to OFT approval of the restructure.
Over £35m of Patientline’s debt is being wiped out and if the plan gets the go ahead more than £12m will be invested in updating telephone and television units as well as adding new services.
A better range of services that patients want will be available, such as:
- Lower inbound phone prices
- Improved internet access
- On demand movies
- Audio books
- New games
- Packages offering better value
- Longer stay discounts
- New content from other media partners
Hospitals will also benefit from new services aimed at helping them in their daily operations. Services include cleaning tracker systems to help combat the risk of infections such as MRSA and Patient Survey Systems aimed at improving the patient experience.
The aim is also to provide service to another 20,000 beds in hospitals where patients currently have no bedside TV or phone to use at all, leading to new employment opportunities.
Tim Sherwood, Chairman of the newly formed Hospedia group, said: “This is great news not only for patients and hospitals, but also for staff and suppliers. Our goal is to rebuild consumer confidence in NHS bedside entertainment systems. The restructured debt and new finance gives much needed stability to the business, allows for the delivery of new innovative services and gives a real opportunity to begin to provide improved value for money”.
It is hoped the Office of Fair Trading review process will be concluded by October.
ENDS
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EDITORS NOTES:
A new company, Hospedia Ltd (“Hospedia”), is acquiring Patientline UK Ltd (“Patientline”) and with the support of the banking syndicate that have financed Patientline, the existing debt is being reduced by over £35m.
Hospedia group will also acquire Premier Telesolutions Ltd (“Premier”), subject to approval by the Office of Fair Trading and the usual transaction conditions.
Hospedia’s current shareholders are the Patientline banking syndicate (The Royal Bank of Scotland plc, HSBC Bank plc, Bank of Scotland plc and IKB Deutsche Industriebank AG) as the existing Patientline debt is being reduced by over £35m through a debt for equity swap.
Subject to OFT clearance and the acquisition of Premier, Milestone Capital LLP, which owns the majority of shares in Premier, will also become a shareholder in Hospedia group along with the management team led by Tim Weil, Premier’s CEO. Tim Weil will become CEO of Hospedia on completion of the deal.
Subject to the acquisition of Premier, Hospedia group will also receive over £12m of additional investment from the existing Patientline banking syndicate.
Patientline Plc, the original holding company of Patientline UK Ltd, is now in administration. However, the operations of Patientline UK Ltd, its contracts and the services it provides at each hospital continue uninterrupted.
NHS bedside entertainment and telephony systems have been provided by private companies over the past 10 years at no cost to the NHS to install maintain or operate. Between 2001 and 2007, installations continued on this basis under a Government led program called “Patient Power”.
Currently, Patientline and Premier operate in excess of 80,000 terminals installed by the bedside providing TV and telephony at more than 200 NHS hospitals across Great Britain.
For further information contact:-
PRESS OFFICE: 0800 959 3540
Mark Thomas Mobile: 07710 740468 Email: markt@pha-media.com
David Brookes Mobile: 07787 703248 Email: david@pha-media.com