Developmedica Goes Into Liquidation

Online, May 22, 2011 (Newswire.com) - Developmedica, a private company providing training and career support for doctors, has filed for liquidation stating "...the company cannot by reason of its liabilities continue its business..." proving that as hospitals fight to maintain financial control, it's often the providers that feel the effects.

Developmedica, formerly Apply2medicine, isn't the first training company to fail in this tough climate. Almost a year ago, the British Association of Medical Managers (BAMM), another privately owned company, went into liquidation owing over £1 million.

Developmedica's statement of affairs declares a shortfall of £307,612 after disposal of assets and with debts like these you'd think that it must be the end of the line. However, the company does appear to have found a White Knight in the guise of Radcliffe Publishing. As Developmedica rises from the ashes into Radcliffe Learning, it must leave a less than funny taste on the tongue for the many out-of-pocket suppliers & clients that make up its creditor list.

There are many questions still to be answered but a big one is just why would Radcliffe Publishing take on a training provider that cannot keep its own house in order? With this as their first toe in the water of training provision, their reputation now seems to be reliant on busy professionals not realising that their development is being trusted to a failed company. A quick phonecall to the Developmedica office leaves you with the sense that it is business as usual despite the liquidation and the company website confirms the metamorphosis into Radcliffe Learning. In fact, it appears that the only mention of liquidation is in the form of official notices in the London Gazette and at Companies House. It almost makes you think somebody must have said "let's hope nobody notices..."