Listed HealthTech Optima Health plc has acquired an occupational health services firm for £1.4m.
The deal for BHSF Occupational Health adds £8m revenue and 60 occupational health clinicians to its operations, Optima – a provider of occupational health and wellbeing services founded in 1947 – told the London Stock Exchange.
BHSF is focused on preventing work-related illnesses and injuries, protecting workers from occupational hazards and promoting workplace health and safety.
In the last 12 months it reported gross profit of £3m and a loss before tax of £400,000.
Optima added that the acquisition strengthens its clinical capabilities and enhances its ability to deliver tailored, innovative workplace health and wellbeing solutions.
The deal is expected to be EBITDA earnings accretive following the first full year of ownership.
“The acquisition of BHSF Occupational Health is an exciting step in our plans to expand our delivery of optimised occupational health and wellbeing services, and aligns with our strategy of delivering targeted M&A to accelerate growth,” said Optima CEO Jonathan Thomas.
“The acquisition brings an experienced team of new colleagues into Optima Health including around 60 occupational health clinicians in addition to an attractive customer base, both of which strengthen the group’s ability to deliver its industry leading solutions on a broader and growing scale.”
Stuart Hayhurst (pictured), CEO of BHSF Group, added: “As a long-standing health and wellbeing provider, BHSF Occupational Health has helped millions of people obtain access to necessary healthcare services they couldn’t easily get elsewhere.
“The decision to sell the business to Optima Health plc comes after careful consideration, and we believe Optima will be a great home, as they share very similar values and their commitment to excellence aligns with BHSF.
“We are confident that the business will continue to thrive under the new leadership.”
Subject to customary closing conditions, the acquisition is expected to complete around the end of January 2025.