March was another month of interesting deal activity across the UK healthcare sector, with consistent themes driving transactions. Digital health, occupational health, clinical services and specialist care all remain highly active.
View our summary of the key M&A, private equity and venture capital deals across the UK healthcare sector in March 2023 below.
Notable sector deals: March 2023
Medigold’s acquisition of Health Management
A major acquisition for BGF-backed occupational health provider, Medigold, with the carve-out of Health Management from US corporate, Maximus
Health Management brings significant scale, generating turnover of c.£30m, but has been heavily loss making in recent years
The combined business becomes the largest independent occupational health provider in the UK, with a workforce of over 1,100, servicing 3,500 customers and c.4.5 million employees across the country
The deal marks an active start to the year for occupational health, having seen Medigold’s competitor PAM Group make a more modest acquisition in January
Acquisition of Naytal by the Maven Clinic
A strategic deal for the Maven Clinic, the world’s largest virtual clinic for women’s health, as it acquires London-based digital health company Naytal
Naytal provides on-demand access to women’s and family health experts, covering fertility and pregnancy through to postpartum care and menopause
The transaction will enhance Maven’s ability to service its membership base in the UK and expand the client base further
This follows Maven’s significant fundraise of $300m late last year, with the business now supporting members in over 175 countries across the globe
The deal is another example of the attractiveness of digital health services targeting fertility and women’s health
Acquisition of Schoen Clinic London by Fortius Clinic
The acquisition of the Schoen Clinic London represents a major strategic move for Fortius Clinic, the UK’s largest orthopaedic MSK group
Schoen Clinic is a dedicated orthopaedic hospital in the heart of London and will provide Fortius with a “Centre of Excellence” in orthopaedics in central London, offering an end-to-end clinical pathway
The transaction is a logical extension for Fortius, which became part of European diagnostics and outpatient services provider Affidea in 2021
The deal highlights strong ongoing M&A activity across clinical services, with both private pay and outsourced NHS services sought after
Montreux’s acquisition of Zero Three Care
An interesting deal for Montreux’s fixed yield fund which focuses on acquiring smaller businesses across the specialist care sector
Zero Three operates ten care homes and two supported living locations, providing care to young adults with learning disabilities and complex needs
With an exclusive focus on the UK health & social care sector, Montreux has now made over 20 acquisitions across specialist care
The broader specialist care market’s resilience through challenging times has made it increasingly attractive to investors and acquirers, with particular interest from infrastructure investors in recent years due to stable returns
Healthcare market activity: March 2023
Private equity activity
Sub-sector | Target | Acquirer / Investor | Exiting PE |
Children's Services | A Wilderness Way | Sovereign Capital | BGF |
Digital Health | FingerPrint Global | Halcyon (Aliter) | N/A |
Digital Health | Naytal | Maven Clinic (General Catalyst) | N/A |
Occupational Health | Health Management | Medigold Health (BGF) | N/A |
Pharma Services | MAP Patient Access | Kester Capital | N/A |
Physio | Back in Action UK | Sano Physio (Solingen) | N/A |
Specialist Care | Zero Three Care | Montreux Capital | N/A |
Venture capital activity
Target | Description | Lead Investor | Investment |
Antiverse | Antibody drug discovery platform | Development Bank of Wales | $3m |
CanSense | Blood test to detect bowel cancer | Mercia | £1.5m |
GenoME | Ovarian cancer diagnostics | Deepbridge | £1.4m |
HelloSelf | Digital therapy and coaching platform | Octopus Ventures | £17m |
Nuvision | Ocular wound dressing and contact lenses | Mercia | £1.1m |
SafeAP | Non-surgical aesthetic treatments | Jenson Funding Partners | £250k |
コメント