top of page

September 2022: Healthcare M&A Snapshot

This snapshot summarises the key mergers & acquisitions, private equity and venture capital transactions across the UK healthcare sector in September 2022.

A PDF copy of the report can be downloaded here:

Notable Sector Deals

Management buy-out of Partnering Health

  • Partnering Health provides a range of healthcare services to NHS and private partners around the country, including integrated urgent care and out of hours home visiting services to 1.7 million patients throughout Hampshire

  • After showing significant growth, with revenue rising from £13.7m to £22m within two years, an MBO has been backed with equity from Ethos Partners and debt from Thincats

  • Future growth plans are centred around bolt-on acquisitions, broadening contracts with existing clients, alongside geographical expansion

  • The deal is another example of investment appetite for businesses providing critical services which alleviate pressure on the NHS

Apricity’s €17m Series B fundraise

  • A significant fundraise for Apricity, the virtual fertility clinic, as the business looks to grow its geographical footprint

  • Launched in 2018, Apricity provides a new approach to reproductive medicine, incorporating technology and fertility care to increase chances of conception

  • The investment was led by MTIP, a Swiss healthcare investor, and Iris Ventures, a consumer-centric equity fund

  • 2022 has been a year of growth for Apricity, doubling revenue, the recent acquisition of mobile fertility app Woom, and growth in B2B offerings

  • The broader fertility technology sector continues to receive significant investment, as the market evolves and expands

Optimo Care Group dual acquisitions

  • Two bolt-on acquisitions in quick succession for Optimo Care Group, the rapidly growing domiciliary care provider

  • Bolton-based Mayday Homecare and Safe Hands Support, based in Oldham, joined the group in August and September respectively

  • Combined, the two acquired entities deliver 5,500 hours of care a week to approximately 650 clients

  • These acquisitions are the first of many planned in the next twelve months for Optimo, as it looks to enhance its presence in the UK homecare market

  • Optimo is one of a small group of consolidators in the fragmented sector, with Cera Care and Nobilis also remaining highly active

£2.2m Series A fundraising for Hexarad

  • A further funding round for teleradiology provider Hexarad, led by Foresight and supported by various sector-focused angel investors

  • Operating in a sector which has historically been dominated by the four major players (Medica, 4Ways, Everlight and TMC), Hexarad differentiates itself through its bespoke technology platform, Optirad

  • Optirad works by analysing and then deploying a radiology department’s workforce in the most efficient way, creating broader benefits for NHS Trusts than just the remote reporting of scans

  • The funding will be used to continue scaling the business, both in terms of the technology platform and radiology reporting resource pool

Healthcare Market Activity

Private Equity Activity




Exiting PE

Healthcare IT

Blue Zinc

ClearCourse (Aquiline Capital)



Colinton Dental & Riccarton Dental

Clyde Munro (Synova)


Custodial Health

CRG Medical

HCRG Care Grup (Twenty20 Capital)


Domiciliary Care

Guinness Care's homecare division

City & County (Summit Partners)


Clinical Services

Partnering Health

Ethos Partners


Specialist Care

Recovery Care Group

Accomplish Group (G Square)


Venture Capital Activity



Lead Investor



Virtual fertility clinic




Patient monitoring platform

General Catalyst



Teleradiology provider

Foresight Group



Platform for pharmacists to access uncommon medicines




Specialist clinic for the treatment of eating disorders

Gresham House


Diagnostic imaging platform

Triple Point Ventures



bottom of page