View our summary of the key M&A, private equity and venture capital deals across the UK healthcare sector in June 2023 below.
Notable sector deals: June 2023
BGF’s £9m investment into Archus
An interesting investment of £9m from BGF into Archus, the healthcare infrastructure specialist
Archus provides strategic and infrastructure consultancy and analytics services to health and social care organisations
The funding will be used drive continued growth in the UK and Ireland, as well as international expansion
As health systems in both the UK and internationally seek to create more efficient and intelligent pathways (whether physical or digital), consulting services of this nature will remain highly in demand, driving investor interest
$52m funding for GetHarley led by Index Ventures
A $52m fundraise for GetHarley, the digital skincare platform, led by Index Ventures, supported by Headline, Visionaries Club and Village Global
GetHarley connects consumers with over one thousand clinicians to provide remote skin consultations, as well as recommendations for bespoke skincare routines using medical-grade products
With a $6bn global market for medical grade products and aesthetic treatments which is growing at over 13% per annum, the business is looking to tap into this demand by providing an accessible and professional service
The funding will be used to double headcount as the business continues to expand globally
Fertifa’s £5m fundraise led by Notion Ventures
Fertifa provides corporate clients with wellbeing services for employees facing fertility and other sexual health challenges
The £5m funding round, which follows a pre-seed round last year, was led by Notion Capital and supported by Triple Point Ventures
The company has processed more than £1.5m worth of employer-funded reimbursements to employees for fertility treatments in the last year
The deal highlights the continued drive by employers to support the health and wellbeing of their employees and the attractiveness of technology solutions which simplify this process
Acquisition of Kenward Orthopaedic by Ability Matters
Another successful acquisition for G Square-backed prosthetics and orthotics group, Ability Matters
Kenward Orthopaedic, based in Leeds, is a specialist manufacturer of orthopaedic footwear, primarily serving NHS patients
Following investment from G Square in 2021, Ability Matters has grown rapidly through acquisition, also completing deals with ProActive Prosthetics and Crispin Orthotics last year
The group aims to become a European leader in innovating, manufacturing and suppling prosthetic/orthotic devices and associated clinical services
Healthcare market activity: June 2023
Private Equity Activity
Sub-sector | Target | Acquirer / Investor | Existing PE |
Consultancy | Archus | BGF | N/A |
Dental | Two Glasgow Practices | Scottish Dental Care (BGF) | N/A |
Elderly Care | Barton Place Nursing Home | BN Care (BGF) | N/A |
Medical Equipment | Kenward Orthopaedic | Ability Matters (G Square) | N/A |
Pharma | Lucis Pharma | Rosemont (Inflexion) | N/A |
Specialist Care | South West Intervention Services | Tristone Healthcare (Duke Royalty) | N/A |
Venture Capital Activity
Target | Description | Lead Investor | Investment |
32Co | Platform connecting general clinicians with a network of specialists | Balderton Capital | £2.2m |
Fertifa | Reproductive healthcare support to corporates | Notion Capital | £5m |
GetHarley | Telehealth platform for skincare plans | Index Ventures | $52m |
Upfront Diagnostics | Rapid test for stroke diagnosis | APEX Ventures | £1.6m |