News
Connect Health merges with Healthshare
20 Dec 2024
Two specialist independent healthcare providers in the UK, Connect Health and Healthshare, have announced plans to merge, creating a new multi-disciplinary provider of healthcare services spanning musculoskeletal (MSK), surgical services and diagnostic services.
The merger is being supported by Connect Health and Healthshare’s existing private equity partners, LDC and BGF.
The new company said its combined resources and expertise would offer NHS Integrated Care Boards (ICB) greater capacity and innovation, and a more integrated solution across a broader range of services, ultimately driving better patient experience, clinical outcomes and value for money at a critical time for the health service in England.
LDC originally backed Connect Health in 2020, with the business subsequently acquiring Pain Management Solutions (PMS) to expand its services. BGF invested in Healthshare in 2019 with growth capital being used to support the business as it scaled and diversified further into diagnostics.
LDC and BGF will continue to support the business which will be led by CEO Mike Turner and a nine-strong executive management team, including Healthshare Co-founders Nick McGrath (Chief Strategy Officer) and Neil Cook, and Connect Health Founder Andrew Walton.
Mike Turner, CEO, said: “Uniting Connect Health and Healthshare creates a provider that’s more than the sum of its parts. We share the same commitment to clinical excellence, patient experience and colleague development and our complimentary areas of expertise and geographical coverage mean we can offer an even more compelling proposition to NHS commissioners – an integrated provider of best-in-class MSK, pain, rheumatology and surgical and diagnostic services with the expertise and resources to drive better outcomes, care standards and value for money. The combination of our two organisations has already been tried and tested in our partnership with North West London ICB and we are looking forward to bringing these benefits to other NHS partners.
“This is also an exciting time for our colleagues, creating a purpose-led, multi-specialty provider with leading training and development opportunities.”
The continuity of LDC and BGF’s support means we have a combined investor base that understands our priorities and vision, whilst ensuring we can further invest in the company to evolve and expand our capabilities.”
Gareth Marshall, Partner and Head of North East & Scotland at LDC, said: “The enduring challenges within the UK’s health and care services will require new capabilities from independent sector providers. Combining Connect Health and Healthshare with a great management team creates a provider that offers the quality and consistency needed to improve services and outcomes as well as driving value for money. We’re excited to be continuing to back Mike and the team’s vision for the future, working in partnership with BGF.”
Matthew Simcox, investor at BGF, said: “Healthshare and Connect Health are examples of UK businesses that are creating a real and positive impact, and driving growth. This merger will provide additional firepower to their mission and operations and, alongside LDC, BGF is proud to be backing the combined business and its exceptional team.”
The transaction was led for LDC by Gareth Marshall, Investment Manager Emma Borrie and Partner Aziz Ul-Haq. The transaction was led for BGF by Matthew Simcox and Chris Morgan.