Clinicians clinch buy-out of centre

ESSEX-based corporate finance advisers firm Watersheds has supported the management buy-out of a private medical centre by the clinicians who practice there.

The Chelmsford Medical Centre (CMC) has been acquired from MedTel UK Ltd, with all existing staff continuing to work for the new company.

CMC, which first opened in February 2006, is a multi-disciplinary centre offering a range of outpatient clinics, treatments and day case surgical options, supported by onsite diagnostic imaging services.

It specialises in areas including back and neck pain, eyes, gastrointestinal problems, and minimally invasive surgery, with its clinic, within Fenton House in New London Road, Chelmsford, including an operating theatre and an MRI scanner.

John Sutcliffe, a spinal neuro-surgeon and chairman of the London Spine Clinic, which was one of the founding members, is the new chairman of CMC.

He has joined forces with existing clinical shareholders and a range of new clinicians to become the 100% owners of CMC following the buy-out. The chief executive is Dr Mark Alexander Williams, the chief operating officer is Michael Goodwin and Jill Norman will continue as the practice manager.

Mr Sutcliffe said: “My colleagues and I are delighted that we have been able to acquire the Chelmsford Medical Centre and that so many local clinicians have committed to support its future operations.

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“I anticipate that the way is now clear towards expanding the level and scope of services to our patients in Chelmsford, in Essex, and further afield.”

Andrew Nicholson of Watersheds, which is also based in Chelmsford, was lead adviser to the buy-out team and worked closely with Richard Wollaston and his team at local law firm Wollastons, who carried out the legal work on the deal.

Mr Nicholson said: “The clinicians are now in control of the clinic’s success in the future, this being their intent from the beginning of the year.

“There is a gap in the provision of healthcare in Chelmsford which is filled very well by this clinic, and which the enlarged team of doctors will seek to expand over the next couple of years.”