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3i strengthens healthcare team with appointment of Paul Preston

European private equity firm 3i has strengthened its healthcare team with the appointment of Dr Paul Preston as an advisor on the sector. Preston has more than 20 years experience in the sector, most recently as director of General Healthcare Group.

Brian Hargreaves of 3i's Industry Group, said: 'The healthcare industry is a vibrant sector with great potential for a high level of investment activity. Paul's appointment is a tremendous endorsement of the success of 3i's Healthcare team and Industry Group.'

3i has made a number of investments in the sector to date and already enjoyed significant success generating returns. Earlier this year it sold Westminster Healthcare, which it bought in 2002, to a group of private investors for £525m, quadrupling its initial investment.

The firm's healthcare team is comprised of 12 professionals across Europe and three Healthcare Industry Group members.

Preston said of his appointment: 'It is an exciting time to be involved in healthcare. As independent provision becomes an increasingly important component of most healthcare economies there is a fabulous opportunity to bring extra capacity and innovation to the market, not just in the UK but elsewhere across Europe.'

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