Healthcare Sector Comment – May 2014

Dato

April saw the completion of 12 deals in the UK healthcare market. An interesting deal saw Cambian Group, one of the UK’s leading providers of specialist behavioural health services, merge with Advanced Childcare and list on the London Stock Exchange. The combined group will offer 249 services for over 2,400 individuals across its UK wide portfolio of facilities, which include 23 schools, 35 hospitals, 188 specialist homes and day care facilities, and three fostering offices.

Also last month, Oasis Healthcare acquired Smiles Dental. Smiles provides dental care from 77 practices in Ireland, England, Scotland and Wales, with a turnover of c. £70 million. Oasis is Britain’s largest provider of dental care and the acquisition of Smiles will see turnover grow to £210 million, with a client base of three million private and public sector patients. The company will be responsible for 280 dental practices as a result of the transaction.

More Deals

Lloyds Development Capital acquired Prism UK Medical Ltd for a total consideration of £30.2m. Prism is a patient moving, lifting and handling equipment manufacturer.

EKF Diagnostics Holdings plc acquired Selah Genomics Inc for a total consideration of £47.3m. Selah is a US molecular diagnostic testing services company.

Montreux Capital Management Zug AG acquired Aitch Care Homes (London) Ltd for a total consideration of £40m. Aitch is a care home operator for adults with learning disabilities.

Target Healthcare REIT acquired two care homes for a total consideration of £8.9m. Both purchases are UK based care homes and will be leased to their operator, Ideal Carehomes.

Genpact acquired Pharmalink Consulting for an undisclosed amount. Genpact is a US leader in transforming and running business processes and operations, including those that are complex and industry-specific. Pharmalink is a UK provider of regulatory outsourcing services to the life sciences industry.

HH Care Ltd acquired Kings Court Nursing Home for an undisclosed amount. HH Care is a UK care home operator. Kings Court is a UK nursing home operator.

Shrub End Surgery acquired Wimpole Road Surgery for an undisclosed amount. Both companies are UK general practitioner’s office operators.

Ms Mary Whitehead acquired Roman Court Nursing & Residential Home for an undisclosed amount. Roman Court is a residential care home operator.

Creative Support Ltd acquired Delos Community Ltd for an undisclosed amount. Creative is a provider of social care services for people with learning disabilities, mental health and other needs. Delos provides residential care and support, day services, supported living, educational programmes and volunteering opportunities.

Partnerships in Care acquired three new care homes for an undisclosed amount. Partnerships in Care is a UK independent provider of secure and step down facilities. The care homes will be an extension to the company’s existing learning disability service offering in Essex.

Warrington Community Living acquired Warrington Community Care for an undisclosed amount. Warrington Community Living is a care home operator. Warrington Community Care is a nursing home operator.