Connect Health Merges with Healthshare
Deal News | Dec 20, 2024 | Business Growth Fund (BGF)
Connect Health and Healthshare, two UK-based specialist independent healthcare providers, have announced a merger to form a multi-disciplinary healthcare services provider. The merger, supported by existing private equity partners LDC and BGF, aims to offer enhanced services to NHS Integrated Care Boards by leveraging combined resources and expertise. LDC initially backed Connect Health in 2020, aiding in their acquisition of Pain Management Solutions, while BGF invested in Healthshare in 2019 to support its expansion into diagnostics. The newly combined entity will be led by CEO Mike Turner and an executive team that includes co-founders of Healthshare and Connect Health. The team aims to provide integrated MSK, pain, rheumatology, surgical, and diagnostic services, promoting better care standards and value for the NHS. The merger has already shown success in collaboration with North West London ICB, and plans are in place to expand these benefits to other NHS partners. The continuity of support from LDC and BGF is fundamental to evolving the company's capabilities and realizing its vision for improving healthcare services across the UK.
Sectors
- Healthcare
- Private Equity
Geography
- United Kingdom – The companies involved, Connect Health and Healthshare, and their operations are based in the UK.
Industry
- Healthcare – The combined company will provide diverse healthcare services such as musculoskeletal (MSK), surgical, and diagnostic services, making the healthcare industry central to the article.
- Private Equity – LDC and BGF, the private equity stakeholders, are playing a critical role in enabling and supporting the merger.
Financials
- LDC and BGF investments in Connect Health and Healthshare, respectively, though specific amounts are not detailed. – LDC invested in Connect Health in 2020; BGF invested in Healthshare in 2019.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Connect Health | Healthcare Provider | Company | A specialist independent healthcare provider in the UK involved in the merger. |
| Healthshare | Healthcare Provider | Company | A UK-based healthcare provider partnering with Connect Health in the merger. |
| LDC | Private Equity Partner | Company | Backer of Connect Health since 2020, involved in the merger support. |
| BGF | Private Equity Partner | Company | Backer of Healthshare since 2019, involved in the merger support. |
| Mike Turner | CEO | Person | The CEO leading the new merged entity of Connect Health and Healthshare. |
| Nick McGrath | Chief Strategy Officer | Person | Co-Founder of Healthshare and part of the management team. |
| Neil Cook | Executive Management | Person | Co-Founder of Healthshare and part of the management team. |
| Andrew Walton | Executive Management | Person | Founder of Connect Health and part of the management team. |
| NHS Integrated Care Boards | Healthcare Service Client | Government | The NHS service body which the merged entity seeks to serve. |
| North West London ICB | Pilot Partner | Government | An NHS Integrated Care Board which has piloted the services of the merged entity. |