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Prosthetics & Orthotics M&A Overview

An overview of M&A and private equity activity in the UK prosthetics & orthotics sector

Overview of M&A in the Prosthetics & Orthotics Sector

The UK prosthetics and orthotics (P&O) market has continued to see strong M&A and investment activity in recent years, driven by positive demand drivers. The market remains attractive to investors due to its resilience and stable NHS-funded revenue streams, in addition to offering avenues for international expansion and M&A opportunities.

Recent deal activity has primarily been driven by G Square-backed AM Healthcare Group’s acquisitive growth strategy, as well as the significant acquisition of Steeper by French corporate Eqwal Group.

Factors such as an ageing population and the increasing prevalence of disabilities, obesity, cardiovascular diseases and diabetes ensure growing demand for orthotic and prosthetic products/services. With custom-made devices tailored to address various conditions, orthotists and prosthetists play a crucial role in enhancing patients' quality of life and mobility, while focusing on minimally invasive interventions.

Despite the positive backwinds, the market grapples with challenges, including disparities in service quality and notable waiting times nationwide. A shortage of skilled professionals, encompassing prosthetists, orthotists and technicians, further strains the sector. Recent studies have highlighted a significant workforce deficit, emphasising the critical need for investment and innovation in training and recruitment initiatives.

As the market continues to expand, we expect to see further deals in the coming years. This is likely to encompass further bolt-ons for the key players, but there is also scope for one of the mid-sized operators to become a new private equity backed platform in the sector.


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