Lifecycle rides high on new investment14/08/2018
Sir David Nicholson KCB CBE, former Chief Executive of the NHS, has joined the board of Lifecycle Management Group, a leading provider of procurement and contract management services to the NHS for over 25 years. Formerly known as Leaseguard Group, the company has rebranded as Lifecycle following a major restructure of the business including a management buy-out, a new board and new investment to fuel its ambitious growth plan.
Commenting on the new appointment, Peter Mullin, CEO of Lifecycle, said, “Sir David brings an unparalleled understanding of the NHS and the challenges it faces. He also shares our passion for ensuring the NHS gets the very best value from every pound it spends. We asked him to join the board to help guide us through our next stage of growth and to help us meet the changing needs of the NHS”
Sir David Nicholson explained, “I’m delighted to be joining the team at Lifecycle at this exciting phase in its development. For 25 years, its focus has been on helping NHS Trusts reduce whole-life costs through procurement and contract management, delivering more than £150m in savings. Ultimately, this leads to improved patient care and I look forward to helping them grow.”
Since the original business was formed in 1990, Lifecycle has worked for more than half the acute Trusts in the NHS, helping them drive down whole-life equipment and services costs with smart procurement and effective contract management.
Regarding the new name, Peter Mullin said, “For more than a decade, providing lease advisory services has been only one of the ways we have helped the NHS to drive down costs. Today, what we do is much broader, helping NHS Trusts minimise their whole-life costs for a range of services and almost every aspect of equipment-related spend. Our new name, Lifecycle, is a much better reflection of the services we deliver.”
The reorganisation follows a management buy-out in which the management team has part-acquired the business, supported by new investors GPE Capital Partners. James England of GPE Capital Partners will also join the board.