top of page

August 2023: Healthcare M&A Snapshot


A summary of the key mergers & acquisitions, private equity and venture capital deals across the UK healthcare sector in August 2023

View our summary of the key M&A, private equity and venture capital deals across the UK healthcare sector in August 2023 below.



Notable sector deals: August 2023


Acquisition of My Online Therapy by Ascenti


  • An interesting deal for Ascenti, as the business continues to diversify its service offering and grow its mental health solutions

  • My Online Therapy is a mental health technology company, offering virtual psychology and counselling services through a smartphone app

  • The deal represents Ascenti’s third acquisition following BD Capital’s investment into the business in 2021

  • Traditionally focused on the physio market, Ascenti has successfully expanded into mental health, offering services to both the NHS and private markets

  • The business now employs over 800 staff with a footprint across the UK


Medinet’s acquisition of Remedy Healthcare Solutions


  • A significant bolt-on acquisition for Medinet following Fremman Capital’s investment into the business earlier this year

  • Remedy Healthcare Solutions is a provider of clinical insourcing services, in addition to offering the staffing and provision of modular building solutions to NHS Trusts

  • With NHS waiting lists in England now at record levels of 7.5 million, clinical insourcing is seen as a key tool in addressing the issue

  • As a result, the UK insourcing market continues to see strong M&A and investment activity, with a number of further transactions likely in 2023


Dual acquisitions for PAM Group


  • Two deals in a month PAM Group, the LDC-backed occupational health provider, as the business continues to expand rapidly through acquisition

  • Firstly, the acquisition of Connect Health’s occupational health physio business will strengthen PAM Group’s physio services, adding a team of 60 and incremental revenues of c.£2m

  • Secondly, the acquisition of Corporate Health Ireland, a provider of consultant-led occupational health services, will expand the business’ geographical presence and service offering in Ireland

  • The broader occupational health market continues to see a spike in M&A activity, with a range of acquirers looking to consolidate the market


Phoenix Hospital Group’s acquisition of One Healthcare


  • The acquisition of One Healthcare marks significant expansion for Phoenix Hospital Group, as the UK private hospitals market sees a spate of recent deals

  • One Healthcare is the operator of two purpose-built hospitals, One Ashford Hospital and One Hatfield Hospital, which opened in 2016 and 2017 respectively

  • Phoenix’s four existing sites are focused on Central London and Essex, with the deal providing a geographical footprint in Kent and Hertfordshire

  • Phoenix has a track record of acquisitions having acquired 25 Harley Street in 2018 and Baddow Hospital in 2019, both of which have been successfully integrated into the group


Healthcare market activity: August 2023


Private Equity Activity

Sub-sector

Target

Acquirer / Investor

Exiting PE

Aesthetics

The Private Clinic

The Quadrivio Group

Bluegem Capital Partners

Clinical Services

Remedy Healthcare Solutions

Medinet

(Fremman)

N/A

Digital Health

My Online Therapy

Ascenti

(BD Capital)

N/A

Digital Health

Oysta Technology

The Access Group

(Hg / TA Associates)

N/A

Healthcare Software

Instem

Archimed

N/A

Occupational Health

Connect Health's OH physio business

PAM Group

(LDC)

N/A

Occupational Health

Corporate Health Ireland

PAM Group

(LDC)

N/A


Venture Capital Activity

Target

Description

Lead Investor

Investment

Bea Fertility

At home fertility treatment kit

Octopus Ventures

£2.5m

Lindus Health

Contract research organisation

Creandum

$18m

Mable Therapy

Platform for children's speech and language therapy

Gresham House

£3.1m

Mimetrik

AI-driven digital dentistry products

Northern Gritstone

£2m


bottom of page