top of page

February 2023: Healthcare M&A Snapshot

View our snapshot of the key deals (M&A, private equity and venture capital) across the UK healthcare sector in February 2023.

A PDF copy of the report can be downloaded here:

Notable Sector Deals: February 2023

System C’s acquisition of Clevermed

  • An interesting deal for System C with the acquisition of Clevermed, a provider of electronic maternity and neonatal records

  • Clevermed’s flagship product, BadgerNet, is used by nearly every neonatal unit in the UK, as well as numerous maternity units

  • The acquisition enhances System C’s maternity offering, with the ultimate goal of delivering integrated digital solutions that span the entire patient journey from prenatal services to end of life care

  • The deal highlights the continued interest from corporate acquirers in software providers delivering electronic patient records to the NHS

£10m investment into Dr Doctor led by YFM

  • A significant funding round for Dr Doctor, the provider of digital care solutions which increase communication and engagement between patients and clinicians, managing 25% of NHS outpatient appointments

  • With NHS backlogs at all time highs, Dr Doctor’s offering is key in driving efficiencies across NHS services, as well as providing better access to care

  • The funding will be used to expand the business’ sales and development teams, make greater investment in the product and continue to scale services across the NHS

  • The deal is another example of investor appetite for software and services which help to alleviate pressures on the NHS

Acquisition of Diamond Whites by Impress

  • A significant deal for Europe’s leading chain of orthodontic clinics, Impress, acquiring Diamond Whites in a deal worth over €30m

  • Founded in 2012 as a provider of teeth whitening products, London-based Diamond Whites has subsequently expanded into invisible aligners

  • The acquisition will see Impress add oral care, whitening products and cosmetic dental treatments to its service offering, which will extend to over 60 cities across the UK

  • The deal follows Impress’ $50 million Series A funding round in 2021, as the business has expanded its presence across Europe and the USA

Merger of E-Zec Medical and ERS Medical

  • A significant merger between E-Zec Medical Transport and ERS Medical, creating the UK’s largest provider of specialist transport services to the NHS and local authorities

  • The enlarged business serves more than 50 commissioning bodies with the support of 2,500 specialist employees, from 55 operational sites nationwide, generating revenues in excess of £100m

  • The deal delivers considerable geographical expansion and creates the unequivocal industry leader

  • The deal was funded by E-Zec’s incumbent investor Cairngorm Capital, with debt provided by Thincats

Healthcare Market Activity: February 2023

Private Equity Activity



Acquirer / Investor

Exiting PE


Aesthetic Technology

Omni Partners



Byrnes Dental Laboratory


(Care Ventures)



Diamond Whites


(LBO France)


Digital Health

Dr Doctor

YFM Equity Partners


Dom Care

Stepping Stones Services


(Oxygen EP)


Medical Transport

ERS Medical




Residential Care

BN Care



Venture Capital Activity



Lead Investor



Global platform for patient reviews




App for home delivery of medication within 45 minutes




Digital pharmacy

Thairm Bio


ReadyGo Diagnostics

Diagnostics business that detects infectious diseases



Re:course AI

AI platform for healthcare training

Par Equity


Syndi Health

Digital mental health platform for employees

Plug and Play

Founders Factory



Remote vet appointments platform

Angel Investors


bottom of page