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



Acquirer / Investor

Exiting PE


The Private Clinic

The Quadrivio Group

Bluegem Capital Partners

Clinical Services

Remedy Healthcare Solutions




Digital Health

My Online Therapy


(BD Capital)


Digital Health

Oysta Technology

The Access Group

(Hg / TA Associates)


Healthcare Software




Occupational Health

Connect Health's OH physio business

PAM Group



Occupational Health

Corporate Health Ireland

PAM Group



Venture Capital Activity



Lead Investor


Bea Fertility

At home fertility treatment kit

Octopus Ventures


Lindus Health

Contract research organisation



Mable Therapy

Platform for children's speech and language therapy

Gresham House



AI-driven digital dentistry products

Northern Gritstone



bottom of page