International law firm, Bird & Bird, advised Patientline plc on its flotation on the Alternative Investment Market (AIM). The Company raised approximately £41m, despite difficult market conditions, giving it a market capitalisation of approximately £104m. Hawkpoint Partners were the nominated advisor to Patientline. The placing was underwritten by ING Barings.
Patientline plc is the leading provider of bedside entertainment, communication and information services for patients in acute hospitals in the UK and the Netherlands. In the UK Patientline provides NHS trusts with a fully managed service, undertaking full financial and operational responsibility for its facilities within NHS hospitals with no cost to the hospitals. Services offered extend from providing audiovisual devices to internet access, a variety of interactive and information sevices and access to clinical IT systems.
Patientline was founded in 1993. Its CEO, Derek Lewis, the former head of the Prison Service and Granada Group, joined in 1998. Shortly prior to the IPO, two new non-executive directors were appointed: Mair Barnes, a non-executive director of Abbey National plc and Scottish Power plc and Sir Alan Langlands, formerly head of the NHS Executive.
Bird & Bird advised Patientline on all corporate and banking aspects related to the IPO. The team was lead by corporate partner Neil Blundell and senior solicitor Sarah Redout. Banking advice was provided by banking partner Brett Israel and senior solicitor Charlotte Tudway.
A copy of the prospectus relating to the IPO can be obtained by contacting Natalia Arestis, PR Executive at Bird & Bird, on +44 (0) 20 7415 6000.
For details on the deal, please contact Neil Blundell on +44 (0) 20 7415 6000.