From the Health Service Journal:
NHS employees working at hospitals run by the operator Circle are to be offered shares in the company for the first time as part of moves to change its governance structure.
Circle Holdings, the publicly-traded company that owns a majority stake in the hospital operator has announced it is to acquire the rest of the company, currently in the hands of Circle Partnership, on behalf of employees.
As part of the process, Circle employees and NHS staff are both being offered shares in the company for free, providing they meet certain performance criteria.
HSJ understands that these criteria, yet to be agreed, will vary by team and will be arranged as part of individual staff members’ appraisals.
Circle employees have previously had access to shares in the partnership through incentives, however they were not able to sell them.
A body called the Partnership Benefit Trust will be created once the restructure goes ahead in order to give Circle staff and NHS partners access to tradeable shares in Circle Holdings PLC. Employees who are given shares will not be able to sell them before the end of an 18-month period.
The proposals will need to be voted on by the members of the Circle Partnership. The acquisition is expected to be complete in the first few months of 2014, according to a source close to the process.
The company, which provides services in five locations - including the management franchise for Hinchingbrooke Health Care Trust in Cambridgeshire, has also announced it intends to raise £25m in order to explore growth opportunities in both public and private health markets.
Note from BIOS ed - Circle are in the last 5 contractors selected for the bid to run the George Eliot hospital in the West Midlands