Healthcare sector comment – April 2012

Dato

April saw the completion of 12 transactions. One deal that stood out this month was Voyage Healthcare acquiring Solor Care from Barclays Ventures, Royal Bank of Scotland and management. The acquisition, funded by cash as well as equity from shareholders HgCapital and SL Capital Partners, will increase Voyage’s geographic scope to provide care services including residential care, supported living, daycare, as well as children’s services and higher acuity nursing settings.

It has also recently been announced that Four Seasons Health Care is to be acquired by the private equity firm, Terra Firma Capital Partners for a consideration of £825m. The deal is expected to complete in summer 2012. Four Seasons operates a network of healthcare centres and nursing homes, operating 445 care homes with 22,364 beds, and 61 specialist care centres with 1,601 beds.

Deals

The MBO/MBI Team acquired Leeds Road Dental Practice Ltd for an undisclosed amount. Leeds Road Dental Practice is a dental practice.

Voyage Healthcare Group Ltd acquired Solor Care Ltd for an undisclosed amount. Voyage Healthcare is a provider of community-based residential care for people with learning disabilities. Solor Care is a provider of care services including residential centres and supported living.

Enara Group Ltd acquired Premier Home Services Ltd, At Home Community Care Ltd, Heart to Heart Care Ltd and Delight Care Ltd for undisclosed amounts. Enara Group is a home care service provider. Premier Home Services, At Home Community Care, Heart to Heart Care and Delight Care are home care providers based in the South of England and Wales.

Global Healthcare Exchange, LLC acquired TriSolve Ltd for an undisclosed amount. Global Healthcare Exchange is a healthcare supply chain management specialist. TriSolve provides consultancy services and “support with system integration and change management” to NHS trusts and suppliers.

The Cambian Group Ltd acquired Signpost Children’s Services Ltd for an undisclosed amount. The Cambian Group is a provider of specialist services in education, mental health rehabilitation and learning disabilities. Signpost Children’s Services is a children’s residential care services provider.

GE Healthcare Ltd acquired for SeqWright Inc an undisclosed amount. GE Healthcare is engaged in the development, manufacture and sale of specialised products for research-based biotechnology supply and for the diagnosis and treatment of disease, as well as operating a pharmaceutical business. SeqWright specialises in nucleic acid sequencing and other genomic services.

Nolato AB acquired Cope Allman Jaycare Ltd for a consideration of £16.6m. Nolato is a high-tech developer and manufacturer of polymer product systems and components. Cope Allman Jaycare is a pharmaceutical packaging manufacturer.

Active Assistance Ltd acquired Communicare Ltd for an undisclosed amount. Active Assistance is a provider of live-in care services for physically disabled adults and children, specialised in supporting people with a spinal cord injury. Communicare is a provider of specialist care to service users with highly complex vented care needs.

Australian Laboratory Services Pty Ltd acquired Eclipse Scientific Group Ltd for a consideration of £25.3m. Australian Laboratory Services is a provider of analytical laboratory and technical services. Eclipse Scientific Group is a food and pharmaceutical laboratory testing company.

Vion Food Group Ltd acquired Baic Protein Pty Ltd for an undisclosed amount. Vion Food Group is a global food company. Baic Protein is a blood plasma and haemoglobin producer.

Prestige Brands Holdings Inc acquired 17 of Glaxosmithkline Plc’s over-the-counter pharmaceutical brands for a consideration of £412m. Prestige Brands markets, sells and distributes over-the-counter healthcare and household cleaning products.

Halma Plc acquired Accutome Inc for a consideration of £15.6m.