Banks Bourne, American Banker, Receives £73m Dividend from Covid Contracts with UK Government
An American banker, Banks Bourne, received a £73m dividend from his UK medical company, Tanner Pharma, in 2021 after the company won hundreds of millions in Covid contracts from the UK government.
Tanner Pharma's profits increased from £1.4m in 2019 to £64m in 2021, driven by Covid windfall contracts with the UKHSA.
Turnover increased from £192m in 2020 to £468.5m in 2021, resulting in a profit margin of 19.8% in 2020 and 13.7% in 2021.
The UK government awarded Tanner Pharma contracts worth £865m in 2020 and 2021, with the largest contract valued at up to £243m.
The company's employees were paid an average of £248,521 in 2021, up from £213,500 in 2020 and £84,110 in 2019.
There have been accusations of misspending in the government's awarding of Covid contracts, and the government has faced criticism for losing and risking "unacceptable" billions of taxpayers' money.
The controversy surrounding the sums of money afforded to middle-men and facilitators during the Covid procurement process has been ongoing, with the payment of more than £21m in taxpayers' money to a Spanish middleman being a notable example.
The article discusses Andrew Bourne, the founder and CEO of Bourne Partners, a financial services firm specializing in the pharmaceutical, pharmaceutical services, and consumer health sectors.
Bourne has invested in more than 200 private companies/assets since 2000 and is also the founder and chair of Tanner Pharmaceathat dates back to 2003.
The article also mentions that Bourne was previously the vice-president of Wachovia Securities, a bank that was bought by Wells Fargo in 2008.
The article also highlights that the Department of Health and Social Care spokesperson has stated that the procurement of contracts for the pandemic was awarded in line with procurement regulations and transparency guidelines, with robust rules and processes in place to ensure transparency.
Turnover increased from £192m in 2020 to £468.5m in 2021, resulting in a profit margin of 19.8% in 2020 and 13.7% in 2021.
The UK government awarded Tanner Pharma contracts worth £865m in 2020 and 2021, with the largest contract valued at up to £243m.
The company's employees were paid an average of £248,521 in 2021, up from £213,500 in 2020 and £84,110 in 2019.
There have been accusations of misspending in the government's awarding of Covid contracts, and the government has faced criticism for losing and risking "unacceptable" billions of taxpayers' money.
The controversy surrounding the sums of money afforded to middle-men and facilitators during the Covid procurement process has been ongoing, with the payment of more than £21m in taxpayers' money to a Spanish middleman being a notable example.
The article discusses Andrew Bourne, the founder and CEO of Bourne Partners, a financial services firm specializing in the pharmaceutical, pharmaceutical services, and consumer health sectors.
Bourne has invested in more than 200 private companies/assets since 2000 and is also the founder and chair of Tanner Pharmaceathat dates back to 2003.
The article also mentions that Bourne was previously the vice-president of Wachovia Securities, a bank that was bought by Wells Fargo in 2008.
The article also highlights that the Department of Health and Social Care spokesperson has stated that the procurement of contracts for the pandemic was awarded in line with procurement regulations and transparency guidelines, with robust rules and processes in place to ensure transparency.
