Albion exits Nelson House to NHS-Care UK partnership

Albion made a return of 1.4x money or 18.3% IRR on the sale of Nelson House, which marked the first joint venture between the NHS and a private healthcare provider involving a hospital.

Albion exited the business after a holding period of two years. Healthcare forms the central position in Albion's portfolio, claiming a 25% share. The VC plans to make further investments in healthcare, particularly as the NHS looks to form additional private sector partnerships, the VC said in a statement.

Previous funding
Albion invested £4.9m in the creation of Nelson House in March 2011, after teaming up with Orchard Portman Hospitals, in order to develop mental rehabilitation services in the Hampshire region. The hospital opened in May 2012.

Albion previously partnered with Orchard Portman, an experienced mental health services operator, to create a hospital in Somerset.

Company
Nelson House is a 32-bed step-down rehabilitation mental health hospital in Gosport, Hampshire, managed by Orchard Portman. The hospital offers care and treatment to male patients aged 18-65 as they aim towards independent living. All patients are paid for by the NHS and come from NHS hospitals, as well as private mental health hospitals used by the NHS.

People
David Gudgin is partner at Albion. 

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• Topics
• Exits
• UK / Ireland
• Healthcare
• Albion Ventures
• United Kingdom