Hospital Services Limited Joins Asker Healthcare Group in Strategic Acquisition
Deal News | Feb 14, 2025 | PMSI
In a significant move aligned with its growth strategy, European Asker Healthcare Group has acquired Hospital Services Limited (HSL), a prominent distributor and services provider of medical equipment and associated supplies across the UK and Ireland. Headquartered in Belfast, HSL has developed a strong market presence over the span of 60 years and has notably expanded its operations with significant backing from Foresight Group between 2015 and 2023. Under Foresight's investment, HSL has achieved a near seven-fold growth, also scaling its workforce substantially. The company serves over 500 medical facilities as of 2024, offering products ranging from diagnostic imaging to surgical devices and patient communication technologies. The acquisition by Asker signifies a strategic consolidation, poised to enhance HSL's offerings and fulfill Asker's ambition to lead in the European healthcare market. The vendor commercial due diligence, led by PMSI, highlighted HSL's strong market positioning in Ireland and its potential for continued expansion in Great Britain. With new ownership, HSL aims to further its impact in healthcare delivery while leveraging Asker's resources for innovative solutions.
Sectors
- Healthcare Distribution
- Private Equity
- Mergers and Acquisitions
Geography
- United Kingdom – Hospital Services Limited, the target company, operates across Great Britain, Northern Ireland, and the Republic of Ireland, with its headquarters in Belfast.
- Ireland – The company has operations in several locations in Ireland, and is a significant player in the healthcare industry in the Republic of Ireland.
- Europe – Asker Healthcare Group, the acquiring company, is a European healthcare entity aiming to expand its footprint across the continent.
Industry
- Healthcare Distribution – The article discusses the acquisition of a company involved in the distribution of medical equipment and supplies, highlighting its role in healthcare distribution.
- Private Equity – Foresight Group, a private equity firm, played a key role in the growth and eventual sale of Hospital Services Limited to Asker Healthcare Group.
- Mergers and Acquisitions – The article focuses on the acquisition of Hospital Services Limited by Asker Healthcare Group, highlighting aspects of M&A transactions.
Financials
- Seven-fold growth since 2015 – Describes the substantial growth in HSL's operations under Foresight Group's investment.
- Five-fold growth of team from 30 to 175 – Details the expansion of HSL's workforce during the same period.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hospital Services Limited | Target Company | Companies | A distributor and services provider of medical equipment operating in the UK and Ireland. |
| Asker Healthcare Group | Bidding Company | Companies | A European healthcare group acquiring Hospital Services Limited to expand its market presence. |
| Foresight Group | Selling Company | Companies | Private equity firm that invested in HSL and facilitated its growth and eventual sale. |
| PMSI | Vendor Commercial Due Diligence Provider | Companies | Provided VCDD to support the transaction, analyzing HSL's market position and potential for expansion. |
| Dominic Walsh | CEO of HSL | People | CEO of Hospital Services Limited, optimistic about the growth after the acquisition by Asker. |
| Graham Stewart | CFO of HSL | People | CFO who acknowledged the role of PMSI in supporting the acquisition process. |
| Johan Falk | CEO of Asker Healthcare Group | People | CEO of the acquiring company, noted the strategic value of the acquisition. |
| James Livingston | Partner at Foresight Group | People | Commented on Foresight's role in growing HSL and expressed confidence in its future. |