Healthcare Sector Comment – April 2014


March saw the completion of six deals in the UK healthcare market. An interesting deal saw Four Seasons Health Care, a leading UK independent elderly care provider, acquire seven homes from Majesticare, a privately owned care group with a portfolio of 16 premium homes that primarily serve self-funded clients.

The seven homes have a total of 358 beds and employ 410 staff. This is the third significant purchase for Terra Firma since acquiring Four Seasons in 2012, which is in line with their strategy of growing the business.

Earlier last month, Vectura Group plc acquired Activaero GmbH, a private German pharmaceutical company focused on the development of products for the treatment of respiratory diseases. The deal was worth £108m and provides Vectura with smart nebulizer-brand technology, helping to build their therapeutic specialist airway disease area.

More Deals

Disa Global Solutions Inc acquired RS Occupational Health Ltd for an undisclosed amount. Disa is a UK provider of international compliance and safety solutions. RS is a UK occupational health clinics operator.

EKF Diagnostics Holdings plc acquired Separation Technology Inc for a total consideration of £2.4m. EKF is a UK company that specialises in the development, production and distribution of near patient analysers. Separation Technology is a UK manufacturer of in vitro diagnostics devices. The sales multiple was 3.1x.

LMB Hillcrest Home Ltd acquired Hillcrest Residential Home for an undisclosed amount. Both companies are UK residential care providers.

Esland North Ltd acquired Esland South Ltd for an undisclosed amount. Esland North is a UK residential care operator. Esland South is a UK special needs youth care and educational firm.