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The Tory’s sold the NHS blood plasma service to US Hedge Fund firm Bain for £90m. 3 years later Bain sold it to the Chinese for £820m

UK plasma supplier sold to US private equity firm Bain Capital

The Government was tonight accused of gambling with the UK’s blood supply by selling the state-owned NHS plasma supplier to a US private equity firm.

The Department of Health overlooked several healthcare or pharmaceutical firms and at least one blood plasma specialist before choosing to sell Plasma Resources UK to Bain Capital, the company co-founded by Republican presidential candidate Mitt Romney, in a £230m deal.

PRUK has annual sales of around £110m and is comprised of two companies employing 200 people at Bio Products Laboratory (BPL) in Elstree, Hertfordshire, and more than 1,000 at DCI Biologicals Inc in the US.

DCI collects plasma from American donors and sends it to BPL where it is separated into blood proteins, clotting factors and albumin for supply to NHS hospitals in the treatment of immune deficiencies, neurological diseases, and haemophilia.

Critics of the deal warned the Tory government that Bain Capital was the wrong company to own the NHS plasma supply line.

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Lord Owen, the former Health Minister, wrote to the Prime Minister asking him to halt the sale.

He wrote: “In 1975, against some resistance from those guarding the finances of the DHSS budget, I decided as Minister of Health to invest in self-sufficiency in the UK for blood and blood products, I now believe this country is on the point of making exactly the same mistake again. The world plasma supply line has been in the past contaminated and I fear it will almost certainly continue to be contaminated.”

His plea fell on deaf ears and on being informed of the sale Lord Owen commented:

“It’s hard to conceive of a worse outcome for a sale of this particularly sensitive national health asset than a private equity company with none of the safeguards in terms of governance of a publicly quoted company and being answerable to shareholders. Bain Capital should not have been chosen for this sale. Is there no limit to what and how this coalition government will privatise?”

Plasma donors at DCI centres in the US receive cash for each donation, typically around $25 for the first visit and $20 for any subsequent visit. People can donate up to twice a week.

The majority of NHS hospital plasma supplies come from PRUK, which sources all its plasma in the United States across DCI’s network of 32 donor centres.

Hedge Fund Bain UK expanding in the UK

The Hospital Corporation of America (HCA), co-owned by Bain UK already caters for the bulk of all private patients in London and runs a number of joint NHS ventures, renting building space from public hospitals for exclusively private treatment.

An in depth report can be found here. It is scary stuff!!!

4 replies on “The Tory’s sold the NHS blood plasma service to US Hedge Fund firm Bain for £90m. 3 years later Bain sold it to the Chinese for £820m”

Certainly won’t make plasma cheaper or more available.

In fact with privatisations like this why would anyone want to donate blood. The days of altruistic giving are gone. It’s all about corporate profit and if you can’t afford to pay the prices, then like power to heat and light your homes, you just don’t heat your home., or don’t get the health care.

It’s simples. It’s freedom. Freedom to buy as much healthcare as you want. And if you don’t have the money well you didn’t work or save hard enough.

Otherwise, enjoy the ongoing funeral. Nae shortage of money there for the blockbuster performance.

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Aye Willie, bled dry in mair wyes than wan. Nae better example o’ “corporate profit” than the transfer o’ Auld Betty’s fortune tax free tae some sunny offshore haven.

Bluid an’ soil Nationalism cuid tak care o’ this if only mair fowk wad open ther een tae the treachery aroon’ them!

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I wonder also how much of the bumper £820m sale price found it way back to the Tory backers who set up the chicken feed priced £90m sell off of public assets.

Aye, we’re in the dying days of a National Health Service as it gets sold off under our feet.

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But privatisations and bumper cheap sell offs aside, subjects paying tribute in the ongoing blockbuster tribute performance might be happy to know that in Scotland GP surgeries and clinics up and down the land are closing on Monday.

Unfortunate if you need medical attention or were scheduled for a consultation or a medical test. but tribute is tribute. But mourning is mourning, and we drain our very veins.

And in England there are thousands of hospital medical procedures being cancelled across the country. No doubt similar circumstances will appertain here in Scotland.

In India about a century ago people took their own life in tribute to a person passed. Fitting tribute and in truth not so different from here.

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