View our summary of the key M&A, private equity and venture capital deals across the UK healthcare sector in August 2024 below.
Notable Sector Deals: August 2024
Acquisition of London Medical by Bupa
Another strategic deal for private healthcare provider Bupa, acquiring specialist outpatient clinic London Medical
Located in Harley Street, London Medical specialises in diabetes treatment, cardiology, endocrinology and ophthalmology
The addition will see Bupa continue its long term strategy to diversify its service offering, now giving customers fast access to specialist diabetes treatment
The deal follows Bupa’s acquisition of MSK specialist Blackberry Clinics earlier in 2024, in addition to the purchase of Smart Clinics, the private GP provider, a year earlier
CVC DIF’s acquisition of medneo UK
An interesting acquisition from CVC DIF, with the addition of diagnostic imaging provider medneo UK via a carve out from the broader pan-European group of medneo
medneo UK is a leading mobile diagnostic imaging company, specialising in MRI and CT services for NHS trusts and healthcare providers in the UK
It provides MRI and CT imaging services to over 130,000 patients a year through its fleet of c.20 mobile scanners
The deal highlights continued interest in the UK diagnostic imaging sector, with a number of parties receiving private equity investment in recent years
Palatine’s acquisition of The MOLE Clinic
A notable deal for Palatine, with the acquisition of The MOLE Clinic as a carve out from Sk:n Group which recently fell into administration
The MOLE Clinic screens and detects skin cancer at an early stage, as well as offering mole removal services
It currently operates clinics in London, Manchester and Edinburgh, with over 50 staff members
The deal will see significant expansion for the business in the next few years via the opening of 10 new branches
The transaction is the fifth investment from Palatine’s Impact Fund II
Acquisition of Maia by DrDoctor
A strategic deal for patient engagement platform DrDoctor, with the acquisition of Maia from Mindwave Ventures
Patient engagement portal Maia provides a personal health record platform designed for mental health care, offering access to appointments, triaging and resources for the provider (NHS) and end user (patient/clinician)
The deal marks DrDoctor’s first steps into the mental health sector and will allow ICBs an interoperable solution, combining personal health records and patient engagement services
DrDoctor continues to execute its growth plan following a £10m investment led by YFM in February 2023
Healthcare Market Activity: August 2024
Private Equity Activity
Sub-sector | Target | Acquirer / Investor | Exiting PE |
Clinical Services | medneo UK | CVC DIF | N/A |
Clinical Services | The MOLE Clinic | Palatine | N/A |
Digital Health | Newgate Technology | Athera Healthcare (Aliter) | N/A |
Digital Health | Mediapharm | Agilio (Five Arrows) | N/A |
Digital Health | Maia | DrDoctor (YFM) | N/A |
Dom Care | Esteem Care | Grosvenor (Weight Capital) | N/A |
Pharmacy | Oxford Online Pharmacy | Rockpool | N/A |
Residential Care | EAM Group | Mysa Care (Downing) | N/A |
Venture Capital Activity
Target | Description | Lead Investor | Investment |
Healx | AI drug discovery | Atomico | $47m |
Hexarad | Teleradiology services and software | MTIP | €13m |
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