UK Occupational Health M&A and Private Equity Trends in 2025

UK Occupational Health Market Overview

The UK occupational health (OH) market continues to expand, with UK occupational health M&A 2025 activity reflecting a growing recognition of the link between employee wellbeing and organisational performance. With only 45% of UK workers currently having access to OH services, the sector presents a significant opportunity for expansion, particularly among SMEs, where provision remains limited.

Valued at £1.5–2.0 billion and growing at c.6% annually, the market is being driven by a convergence of factors: elevated sickness absence (4.4 days per employee in 2024), an ageing workforce (one-third of UK workers are over 50), and a surge in mental health-related issues. Employers are increasingly turning to OH providers to deliver preventative, tech-enabled solutions that support workforce resilience and reduce productivity losses.

2025 M&A and Private Equity Activity in UK Occupational Health

This favourable backdrop has fuelled a wave of M&A and private equity activity. Warburg Pincus’ recent investment in Health Partners, one of the UK’s leading OH providers, follows a string of high-profile deals including NorthEdge’s backing of Latus Health and Spire Healthcare’s acquisitions of Vita Health, The Doctors Clinic Group and Acorn Occupational Health. These transactions reflect a broader trend of consolidation, as platforms seek to scale, diversify services and enhance digital capabilities.

Government Policy and Market Context

Government attention on occupational health has shifted since the 2023–24 consultation cycle, with the more ambitious elements of the previous administration’s programme no longer progressing. The Occupational Health Taskforce has not reconvened, and proposals around national frameworks, minimum standards or new tax incentives remain at an exploratory stage.

Even so, occupational health continues to feature in wider discussions on workforce participation, long-term sickness and productivity, notably through ongoing references to SME OH subsidy pilots and employer-led support models in Treasury and DWP dialogue. While major reform appears unlikely in the near term, the direction of travel remains broadly supportive of improving access to occupational health, particularly for smaller employers.

Outlook for UK Occupational Health M&A

As more employers prioritise workforce wellbeing and policymakers maintain a focus on access, the UK OH market is entering a new phase of growth and consolidation. For investors and operators alike, the opportunity lies in building scalable, tech-enabled platforms capable of delivering integrated, high-quality services across both private and public sector clients.