Nestor Healthcare

COMPANY

History

The company has consolidated its position as a primary provider of healthcare personnel in both the UK and US. During 1996 the company restructured to further strenghten its core healthcare businesses. It sold its non-healthcare operations and strategically merged other businesses.

It claims to be well placed in the UK to take advantage of the "growth opportunities presented in a developing healthcare market." It currently provides temporary personnel to over 400 NHS Trusts and almost every private hospital group in the country.

The company has recently been awarded a number of contracts with NHS Trust hospitals for the management of their internal banks of doctors and nurses and the provision of temporary nursing staff. These contracts are for 2 or 3 years and are expected to generate turnover in the first year of operation in excess of £8 million. In 1996, the NHS represented 38% of the company's total activity.

As a consequence of the resructuring, the company aims to change its name to Nestor Healthcare Group Plc.

PRINCIPAL ACTIVITIES

Private provision of doctors, nurses and carers in both the UK and US. In addition, the provision of temporary qualified and part-qualified accountants within the Greater London area. The company claims to be the largest provider of temporary nurses and carers in the UK through its national network of 133 branches. In 1996 it had over 70,000 nurses and other carers on its register.

OPERATIONAL DIVISIONS

UK Healthcare
USA Healthcare
UK Specialist Personnel

MAJOR SUBSIDIARIES (At 31/12/96)

* British Nursing Co-operations Ltd - trading as BNA

* British Nursing Association Healthcare Services Ltd

* Nestor Medical Duty Service Ltd (Provision of doctors to visit
patients at home for client GPs after normal hours in the North
West and the West Midlands)

* Medic International Limited (Provision of locum doctors etc. in
the UK)
* Cross Country Staffing (Provision of healthchare personnel in
the USA)

FINANCIAL RECORD

As shown in the financial table, the company has consistently increased its revenue since 1993. Profits made on this revenue has been less consistent. It has actually produced losses in a number of years, including 1996. However, in 1996, this was due to losses made on the sale of its discontinued operations. Depsite the losses made in 1996, the company still awarded almost £3 million in Dividends to shareholders.

EMPLOYEES

Whilst the company brags that it has 70,000 nurses and carers on its register, it directly employs a small fraction of this number. In 1996, the number directly employed was 1,339. Of these, a majority, 58%, were employed part-time. The average wage shown in the financial table is a full-time equivalent. On any scale, this is a low wage and in no way compares with the £187,000 received by the highest paid Director.

POLITICAL CONNECTIONS

Non-Executive Director, Charles Goodson-Wickes was previously the MP for Wimbledon. He has served as Parliamentary Private Secretary in the Department of the Environment, The Treasury and the Department of transport, amongst many other industrial and political appointments.

Home country:

Sectors:

Subsidiaries