Healthcare Sector Comment – February 2014


January saw the completion of 10 deals in the UK healthcare market. An interesting announcement this month was Mitie Group’s acquisition of Complete Care Holdings Limited, for a total consideration of £9m. Complete Care is a leading UK care company that provides high acuity care at home to approximately 150 individuals with on-going complex clinical healthcare needs. This acquisition will complement Mitie’s existing domiciliary care portfolio in the UK.

This month also saw Vision Express acquire 65 optical stores from Rayner Opticians, bringing the group’s total number of outlets in the UK and Ireland to 367. This acquisition will allow Vision Express to increase its store count and strengthen its geographical reach. Founded in 1988 in the North East, the company has since grown exponentially and it is now part of Europe’s largest optical retail group GrandVision.

More Deals

Ultrasis acquired the occupational health and travel clinic of Abermed for an undisclosed amount. Both are UK occupational health clinics.

Laborie Medical Technologies Europe acquired Mediwatch for a total consideration of £8.5m. Laborie is a Canadian multinational developer, manufacturer and marketer of innovative medical equipment and catheters. Mediwatch is a UK listed urological health care product developer.

The MBO team acquired U Dentistry for an undisclosed amount. U Dentistry is a private UK dentist operator.

Legrand acquired Tynetec for an undisclosed amount. Legrand is a French manufacturer of a vast range of electrical fittings and wiring accessories. Tynetec is a UK provider of specialist telecare and telehealth devices.

Bespoke Healthcare acquired Sandon House Group for an undisclosed amount. Bespoke is a UK independent provider of nerve conduction study tests for NHS hospitals. Sandon is a UK cosmetic surgery services provider.

North American Science Associates acquired Medvance for an undisclosed amount. Science Associates are a UK medical research organization. Medvance is a UK full service contract research organisation (CRO) specialized in medical devices, in-vitro diagnostics (IVDs), and combination products.

GE Healthcare acquired Finnamore for an undisclosed amount. GE is a US provider of medical technologies and services. Finnamore is a UK health consultancy services provider. Clearwater advised the management of Finnamore on the deal.

Watson-Marlow acquired Bio Pure Technology for a total consideration of £8.5m. Watson-Marlow is a leading UK positive displacement pump manufacturer. Bio Pure is a UK company that specialises in the design and production of advanced single-use tubing connector systems for biopharmaceutical customers.