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September 2024: Healthcare M&A Snapshot


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

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



Notable Sector Deals: September 2024


Acquisition of The Fresh by Agilio Software


  • Another bolt-on deal for Five Arrows-backed Agilio Software, with the addition of dental digital marketing firm The Fresh

  • Based in Manchester, The Fresh is a full-service growth agency specialising in the dental sector, with its own dental CRM system, Leadflo

  • The addition complements Agilio’s previous acquisitions, such as iatro, while also broadening its offering for dental practices and enhancing its position within the patient engagement space

  • This acquisition highlights Agilio’s ambitious growth plans following investment from Five Arrows, with further deals expected going forward


Optegra‘s acquisition of Custom Vision Clinic


  • A strategic acquisition for Mid Europa-backed Optegra, with the addition of private eye clinic Custom Vision Clinic

  • Custom Vision Clinic, based in Yorkshire, is a premium, boutique-style private eye clinic, focused on laser eye surgery and lens replacement

  • This addition grows Optegra’s portfolio of specialist ophthalmic services to 25 UK hospitals and clinics, forming part of a broader growth strategy which has included the recent launch of 11 new NHS clinics and 6 diagnostic clinics

  • The deal demonstrates ongoing acquirer and investor interest in the ophthalmology sector, following recent deals for private pay-focused providers such as Optimax and Sapphire Eye Care


Panoramic’s investment in Millercare


  • A successful investment from Panoramic, backing the management buy-out of mobility product supplier Millercare

  • Millercare is the leading mobility aids company in North West England, providing a range of mobility products and associated services to the NHS and direct to consumers

  • Headquartered in Lancashire, Millercare has 14 showrooms across the North West of England and a growing online presence

  • The deal highlights continued private equity interest in the UK mobility sector, following the recent investment into Eden Mobility by Foresight, in addition to larger private equity deals for Prism, AJM and Kingswood


Acquisition of UKAT by Sullivan Street Partners


  • An interesting deal for private equity firm Sullivan Street which has acquired residential addiction treatment provider UKAT

  • Headquartered in Hertfordshire, UKAT offers addiction treatment and rehabilitation services for substance abuse, alcoholism and wider behavioural and mental health conditions

  • UKAT currently has eight facilities throughout the UK, with over 200 CQC regulated rehab and detox beds

  • The deal will see expansion to UKAT’s facilities and service offerings to further support patients in an underserved market


Healthcare Market Activity: September 2024


Private Equity Activity


Sub-sector

Target

Acquirer / Investor

Exiting PE

Clinical Services

Custom Vision Clinic

Optegra Eye Clinic (MidEuropa)

N/A

Digital Health

The Fresh

Agilio

(Five Arrows)

N/A

Medical

Equipment

Hugo Technology

Asker Healthcare (Nalka)

N/A

Medical

Equipment

Millercare

Panoramic

N/A

Medical

Equipment

Severn Healthcare Technologies

GBUK

(A&M Capital)

N/A

Specialist Care

UKAT

Sullivan Street Partners

N/A

Training

Miad Healthcare

TTC Group

(Pricoa)

N/A


Venture Capital Activity


Target

Description

Lead Investor

Investment

Doccla

Virtual ward provider

Lakestar

£35m

Jones AV

Operating theatre technology

River Capital

N/D


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