February was another busy month for M&A in the UK healthcare market. A summary of the key mergers, acquisitions and investments can be found in the downloadable report below:
Notable Sector Deals
BGF’s investment into The Scottish Dental Care Group
With a multi-million pound minority investment from BGF, The Scottish Dental Care Group is well positioned to continue its aggressive acquisition strategy
The deal highlights the perceived consolidation opportunities still available within the Scottish dental market
This follows TriSpan’s investment into Real Good Dental last year, and Clyde Munro’s ongoing acquisition strategy backed by Synova
Acquisition of Midway Care by City & County
An interesting strategic acquisition for City & County, marking its evolution from a pure homecare provider by adding a broader specialist residential care offering
The deal continues its movement towards more complex care provision following the acquisitions of Complete Care, Advantage Healthcare (formerly Interserve Healthcare) and Total Community Care
This again highlights the significant demand for quality specialist care businesses and the broad pool of active acquirers in the sector
Acquisition of Sandcastle Care by Aspris
An unusual transaction, albeit strategically logical, as Waterland combines two of its portfolio companies, Sandcastle Care and Aspris
With Aspris now operating as a standalone entity (after being separated from the Priory’s adult services business), the addition of Sandcastle provides significantly increased presence in the North West
The deal represents another major transaction in the sector, with continued consolidation of smaller players also contributing to high levels of M&A
ExSeed’s £2.5m seed fundraise
ExSeed’s £2.5m fundraising led by Ascension highlights the significant investment levels into D2C tele-health businesses, with those operating in the “home testing” niche particularly attractive to investors
ExSeed offers a smartphone-based sperm testing kit, allowing users to analyse sperm count at home
This follows numerous recent VC investments into home diagnostic testing businesses such as Thriva and Hertility Health
Healthcare Market Activity
Private Equity Activity
Sub-sector | Target | Acquirer / Investor | Exiting PE |
Medtech | 365 Response | RLDatix | BGF |
Medtech | The GP Service | Kanabo | Maven |
IVF | Leeds Fertility | Care Fertility (Nordic Capital) | N/A |
Dental | Rodericks Dental | Capvest | CBPE |
Dental | Scotish Dental Care Group | BGF | N/A |
Specialist Care | Midway Care | City and County (Summit Partners) | N/A |
Labs | Wickham Micro | Limerston | N/A |
Children's Services | Sandcastle Care | Aspris (Waterland) | N/A |
Venture Capital Activity
Target | Description | Lead Investor | Investment |
ExSeed Health | Home sperm testing kits | Ascension | £2.5m |
Little Journey | App to help reduce anxiety in children undergoing surgery | Mercia | £1.5m |
Orthox | Orthopaedic implants | Parkwalk | £9.2m |
Zetta Genomics | Genomic data management technology | Nina Capital | £2.5m |
C the Signs | AI-driven cancer detection platform | MMC | £5m |
Mindstep | Tech-enabled neurological healthcare business | Octopus Ventures | £2.5m |
Lottie | Elderly care search platform | Kindred | £2.5m |
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