Former bankrupt firm to become licensed NHS supplier

The former bankrupt entrepreneur’s new company is set to become a licensed NHS supplier: Damien Hancox’s biotech group SpectrumX has handed over the contract

  • Hancox was once declared bankrupt and involved in an alleged fraud
  • SpectrumX hails the deal as a “decisive move” amid IPO rumors

Float Plan: SpectrumX CEO Damien Hancox

Float Plan: SpectrumX CEO Damien Hancox

A businessman once declared bankrupt and involved in an alleged fraud has been handed a lucrative NHS contract.

Damien Hancox, who heads UK biotech and healthcare group SpectrumX, announced earlier this month that it will become a licensed NHS supplier in a “decisive step” that “is a key part of our growth strategy”.

Hancox was declared bankrupt in 2007 after a clash with renowned real estate developer Candy Brothers. Two years earlier, in 2005, a High Court ruling found that there were “reasonable reasons to believe” that Hancox was “involved” in a VAT fraud scandal.

Hancox made headlines in 2018 over a £20million divorce from model wife Marilyn Levesque. They separated after five months of marriage. His current girlfriend is believed to be Instagram influencer Susy Castro, who is employed as communications director at SpectrumX.

On Friday, a former adviser, the Earl of Shrewsbury, was told he faces a nine-month suspension from the House of Lords for breaching lobbying rules while working with SpectrumX, which penalized him over a 19-month period between 2020 and 2020 grossed £57,000 in 2022.

Documents viewed by The Mail on Sunday show the Earl was made aware of allegations of fraud against Hancox contained in the 2005 court filings, but refused to step down from his role. According to his register of interests, the peer has not advised the firm since January.

A spokesman for the NHS Supply Chain said: “The sourcing process is still ongoing and checks on all suppliers continue. This supplier will not be able to trade with the NHS until all checks are complete.’

SpectrumX is reportedly eyeing a float on the London Stock Exchange. It also sold products through Matt Molding’s publicly traded retailer THG.

There is no indication of any wrongdoing by Hancox, who was contacted for comment.

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Janice Dean

Janice Dean is a WSTPost U.S. News Reporter based in London. His focus is on U.S. politics and the environment. He has covered climate change extensively, as well as healthcare and crime. Janice Dean joined WSTPost in 2023 from the Daily Express and previously worked for Chemist and Druggist and the Jewish Chronicle. He is a graduate of Cambridge University. Languages: English. You can get in touch with me by emailing:

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