View our summary of the key M&A, private equity and venture capital deals across the UK healthcare sector in June 2024 below.
Notable Sector Deals: June 2024
Acquisition of OnePlan by OneTouch Health Group
A strategic deal for August Equity-backed OneTouch Health Group, with the addition of OnePlan
OneTouch Health Group is an end-to-end care management software provider, with this being its third acquisition since August’s investment in 2022
OnePlan provides domiciliary care software to help CQC compliance and enhance communication between care providers, delivering higher quality care
The acquisition aligns with OneTouch’s growth plan, expanding its care management solutions range and software functionality
The deal highlights continued M&A activity across the care software sector, with Person Centred Software and Nourish also being prolific acquirers
Investment into ABL Health from Bay Tree
A notable investment from Bay Tree Private Equity into community-based healthcare service provider ABL Health
The deal marks a successful exit for previous investor Foresight, who first invested in ABL in 2018, generating returns of 4.1x
ABL Health is commissioned by the NHS and local authorities to deliver community driven holistic healthcare services, including weight management programmes, mental health services and smoking cessation clinics
This investment will see ABL solidify its market position, while enhancing its services and geographic expansion
Ethos’ investment in Bray Group
An interesting investment from Ethos into Oxfordshire-based medical product manufacturer Bray Group
Specialising in pessaries and caustics, Bray Group is a leading manufacturer of healthcare solutions which has been in operation since 1857
Operating through three brands (Avoca, Bray Healthcare and Portia), the business serves c.400 customers in 35 international markets
Following this investment, Bray will build on its existing product range, with continued growth through international expansion
The medical product and devices market has sustained interest from investors and acquirers in recent months, particularly in specialist and niche areas
Dual acquisition by Handl Group
Handl Group has acquired two North West England based rehabilitation and injury specialists, Paediatric Specialist Physiotherapy (PSP) and Osiris Health
The sister companies offer specialist neuro rehabilitation for children (PSP) and adults (Osiris Health), with particular expertise in spasticity management
Handl is a buy-and-hold investor that specialises in the health and social care, legal, and insurance sector
This complementary acquisition will see Handl advance its neuro rehabilitation capabilities, adding to the portfolio which already includes Reach and Mind Right, with further deals planned in the coming months
Healthcare Market Activity: June 2024
Private Equity Activity
Sub-sector | Target | Acquirer / Investor | Exiting PE |
Care | Danforth Care Homes | Warwick Capital | N/A |
Clinical Services | ABL Health | Bay Tree | Foresight |
Consultancy | Wilmington Healthcare | Inspirit Capital | N/A |
Medical Products | Bray Group | Ethos | N/A |
Software | OnePlan | OneTouch Health (August) | N/A |
Venture Capital Activity
Target | Description | Lead Investor | Investment |
Alderley Lighthouse Labs | Human diagnostics lab | Maven | N/D |
Amber Therapeutics | Medical technology for urinary incontinence therapy | F-Prime Capital | $100m |
Care Hires | Agency workforce management platform | West Hill Capital | £1.7m |
LightOx | Treatment for patients suffering from early-stage oral cancer | Praetura | £1.5m |
Psyomics | Mental health technology provider | Parkwalk Advisors | £4m |
Punto Health | Digital solution for managing Alzheimer’s | Heartfelt Capital | £0.55m |
Sava | Digital health monitor provider | Balderton Capital | $8m |
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