top of page

April 2024: Healthcare M&A Snapshot


A summary of the key mergers & acquisitions, private equity and venture capital deals across the UK healthcare sector in April 2024.

View our summary of the key M&A, private equity and venture capital deals across the UK healthcare sector in April 2024 below.



Notable Sector Deals: April 2024


Acquisition of Redcrier by Person Centred Software


  • A strategic deal for Person Centred Software (PCS), with the acquisition of Redcrier, one of the largest UK care industry training providers

  • Redcrier develops accredited training programs for care organisations throughout the UK

  • The deal will see PCS expand its ‘Connected Care’ platform to include training solutions, and will benefit customers of both PCS and Redcrier, with a more comprehensive range of services to enhance the quality of care provision

  • Cow Corner-backed PCS has been acquisitive in the previous two quarters, with the recent additions of ResHub and DepenSys to their portfolio


Voyage Care‘s acquisition of KDL Investments


  • Another bolt-on deal for Wren House-backed Voyage Care, with the acquisition of KDL Investments, comprising of Cristal Care and Newfound Care

  • KDL Investments offers supported living and specialist care services across South Yorkshire and Humberside, with seven care homes and one supported living location

  • With a current capacity to support 64 people across the 8 sites, the deal will provide opportunity to increase operational capacity and geographical footprint

  • The deal follows a quieter period of activity in the specialist care sector, but highlights continued acquirer interest in high quality care groups


Mercia’s investment in Log My Care


  • A successful £3 million investment from Mercia into digital care platform Log My Care

  • Log My Care provides care management software that supports domiciliary care, residential care, supported living and learning disability organisations to access medical records, record notes and receive prompts via an app

  • This investment follows on from previous funding by Mercia in 2022, and will see Log My Care continue to scale its business in the UK, increasing the number of people it supports from 20,000 to 100,000

  • With the ongoing drive to digitise social care aided by government incentives, investor appetite is high for businesses supporting this transition


Acquisition of Hartford Care by Foundation Partners


  • Foundation Partners Asset Management and Deer Capital have partnered to acquire Hartford Care for more than £100 million

  • Hartford Care offers residential, nursing and dementia care across the South of England, operating 20 homes which support over 1,000 people

  • The transaction provides Hartford with additional capital to support its ambitious growth plans to double in size by 2026, with strategic acquisitions of new care homes

  • Foundation Partners invest in healthcare, leisure and housing, with a previous investment in New Century Care, which operates 6 care homes across Scotland and South East England


Healthcare Market Activity: April 2024


Private Equity Activity


Sub-sector

Target

Acquirer / Investor

Exiting PE

Elderly Care

Hartford Care

Foundation Partners Asset Management

N/A

Elderly Care

Integrum Care Group

Duke Capital

N/A

Pharma

Renaissance Pharma

Essential Pharma (Gyrus Capital)

N/A

Specialist Care

KDL Investments

Voyage Care (Wren House)

N/A

Training

Redcrier

Person Centred Software (Cow Corner)

N/A


Venture Capital Activity


Target

Description

Lead Investor

Investment

HealthKey

Digital platform to access health services

Aviva Ventures

£1.1m

Locate Bio

Med tech drug discovery

Mercia

£9.2m

Log My Care

Care management software

Mercia

£3m

Phlo

Digital pharmacy

Par Equity

£9m

ProAxsis

IVD respiratory diagnostics

EMV Capital

£1.8m


Comments


bottom of page