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August 2024: Healthcare M&A Snapshot

A summary of the key M&A, private equity and venture capital deals across the UK healthcare sector in August 2024

View our summary of the key M&A, private equity and venture capital deals across the UK healthcare sector in August 2024 below.



Notable Sector Deals: August 2024


Acquisition of London Medical by Bupa


  • Another strategic deal for private healthcare provider Bupa, acquiring specialist outpatient clinic London Medical

  • Located in Harley Street, London Medical specialises in diabetes treatment, cardiology, endocrinology and ophthalmology

  • The addition will see Bupa continue its long term strategy to diversify its service offering, now giving customers fast access to specialist diabetes treatment

  • The deal follows Bupa’s acquisition of MSK specialist Blackberry Clinics earlier in 2024, in addition to the purchase of Smart Clinics, the private GP provider, a year earlier


CVC DIF’s acquisition of medneo UK


  • An interesting acquisition from CVC DIF, with the addition of diagnostic imaging provider medneo UK via a carve out from the broader pan-European group of medneo

  • medneo UK is a leading mobile diagnostic imaging company, specialising in MRI and CT services for NHS trusts and healthcare providers in the UK

  • It provides MRI and CT imaging services to over 130,000 patients a year through its fleet of c.20 mobile scanners

  • The deal highlights continued interest in the UK diagnostic imaging sector, with a number of parties receiving private equity investment in recent years


Palatine’s acquisition of The MOLE Clinic


  • A notable deal for Palatine, with the acquisition of The MOLE Clinic as a carve out from Sk:n Group which recently fell into administration

  • The MOLE Clinic screens and detects skin cancer at an early stage, as well as offering mole removal services

  • It currently operates clinics in London, Manchester and Edinburgh, with over 50 staff members

  • The deal will see significant expansion for the business in the next few years via the opening of 10 new branches

  • The transaction is the fifth investment from Palatine’s Impact Fund II


Acquisition of Maia by DrDoctor


  • A strategic deal for patient engagement platform DrDoctor, with the acquisition of Maia from Mindwave Ventures

  • Patient engagement portal Maia provides a personal health record platform designed for mental health care, offering access to appointments, triaging and resources for the provider (NHS) and end user (patient/clinician)

  • The deal marks DrDoctor’s first steps into the mental health sector and will allow ICBs an interoperable solution, combining personal health records and patient engagement services

  • DrDoctor continues to execute its growth plan following a £10m investment led by YFM in February 2023



Healthcare Market Activity: August 2024


Private Equity Activity


Sub-sector

Target

Acquirer / Investor

Exiting PE

Clinical Services

medneo UK

CVC DIF

N/A

Clinical Services

The MOLE Clinic

Palatine

N/A

Digital Health

Newgate Technology

Athera Healthcare (Aliter)

N/A

Digital Health

Mediapharm

Agilio

(Five Arrows)

N/A

Digital Health

Maia

DrDoctor (YFM)

N/A

Dom Care

Esteem Care

Grosvenor

(Weight Capital)

N/A

Pharmacy

Oxford Online Pharmacy

Rockpool

N/A

Residential Care

EAM Group

Mysa Care

(Downing)

N/A


Venture Capital Activity


Target

Description

Lead Investor

Investment

Healx

AI drug discovery

Atomico

$47m

Hexarad

Teleradiology services

and software

MTIP

€13m


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