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June 2023: Healthcare M&A Snapshot


An snapshot of M&A, private equity and venture capital deals across the UK healthcare sector in June 2023

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


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