View our summary of the key M&A, private equity and venture capital deals across the UK healthcare sector in May 2024 below.
Notable Sector Deals: May 2024
Acquisition of ECG On-Demand by Diagnostic Healthcare
A strategic deal from G-Square backed imaging business Diagnostic Healthcare (DHC), with the addition of ECG On-Demand
ECG On-Demand is a leading digital cardiology diagnostics provider, and with a 12-lead ECG interpretation and holter monitoring service, it is one of the most sophisticated specialist ECG analysis service suppliers in the UK
This addition follows the recent acquisition of Venturi Cardiology, an independent cardiology clinic in North West England
The deal will enhance DHC’s position as a leading specialist diagnostic service and outpatient pathway provider, as the business continues to diversify from its core imaging services
Practice Plus Group’s acquisition of The Edgbaston Hospital
An interesting and opportunistic deal for Practice Plus Group, acquiring The Edgbaston Hospital from Circle Health
Following its merger with BMI, the sale of the hospital by Circle aims to allay concerns raised by the CMA over reduced competition in the West Midlands
The Edgbaston Hospital is a private hospital over 4 floors, with three theatres, ten consulting rooms, endoscopy suite and an imaging area
Practice Plus Group runs ten hospitals and surgical centres primarily across the South of England, with this acquisition its first in the West Midlands
The deal aims to offer a reduction in local NHS waiting lists, alongside Practice Plus’ continued drive to offer affordable surgery options to the private market
August Equity's investment in Impact Futures
A successful investment into healthcare apprenticeship provider Impact Futures, by August Equity
Established in 2016, Impact Futures provides commercial training and apprenticeships in healthcare, social care and childcare
The investment will allow Impact Futures to continue growth in its core markets, while also exploring M&A opportunities to expand into adjacent sectors, leveraging the buy and build specialism of August
The deal highlights investor interest in upskilling the workforce in critical subsectors, in a time when the NHS, social care and early years face staff shortages and recruitment challenges
Acquisition of Carter Schwartz by Compass
Compass Recruitment Solutions has acquired executive search boutique Carter Schwartz
The acquisition will see two of the UK’s leading healthcare executive search boutiques, Compass Executives and Carter Schwartz, operating under a new brand, Compass Carter Osborne (CCO)
CCO will provide recruitment services across the independent healthcare, social care, life sciences and education sectors
The deal follows Compass Recruitment Solutions recently receiving investment from Cow Corner to accelerate its growth plans
Healthcare market activity: May 2024
Private Equity Activity
Sub-sector | Target | Acquirer / Investor | Exiting PE |
Clinical Services | ECG On-Demand | Diagnostic Healthcare (G Square) | N/A |
Clinical Services | The Edgbaston Hospital | Practice Plus (Bridgepoint) | N/A |
Digital Health | KareInn | Person Centred Software (Cow Corner) | N/A |
Medical Equipment | Entaco | Traditum | N/A |
Physiotherapy | BWT Physio | Six Physio (bd Capital) | N/A |
Recruitment | Carter Schwartz | Compass Recruitment Solutions (Cow Corner) | N/A |
Training | Impact Futures | August Equity | N/A |
Vet | PharmPet Co | Pharmacy2U (G Square) | N/A |
Venture Capital Activity
Target | Description | Lead Investor | Investment |
Fuse Diagnostics | Diagnostic testing platforms | Angel Investors | £1.6m |
LabGenius | Machine learning driven antibody discovery platform | M Ventures | £35m |
Medi2data | Products for the quick and safe exchange of medical data | Wealth Club | £2.1m |
Digital and mental health solution provider | Act Venture Capital | €17m |
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