LONDON: Optima Health (AIM: OPT), the UK’s foremost provider of technology-enabled corporate health and wellbeing solutions, announced Thursday an agreement to acquire the entire issued share capital of BHSF Occupational Health Limited from BHSF Group Limited.
The acquisition, valued at £1.4 million on a cash-free, debt-free basis, is poised to expand Optima Health’s customer base and strengthen its clinical capabilities by adding approximately 60 experienced occupational health clinicians.
“The acquisition of BHSF Occupational Health is an exciting step in our plans to expand our delivery of optimised occupational health and wellbeing services,” said Jonathan Thomas, CEO of Optima Health. “It aligns with our strategy of delivering targeted M&A to accelerate growth.”
This strategic move aims to enhance Optima Health’s position as the leading provider of occupational health services in the UK. BHSF Occupational Health Limited, known for its comprehensive services, focuses on preventing work-related illnesses and injuries, safeguarding workers from occupational hazards, and promoting overall workplace health and safety.
“The decision to sell the business to Optima Health plc comes after careful consideration,” said Stuart Hayhurst, CEO of BHSF Group. “We believe Optima will be a great home, sharing similar values and a commitment to excellence.”
Financially, the deal will be financed with existing funds. Over the past year, BHSF Occupational Health Limited reported unaudited revenue of £8.3 million, a gross profit of £3.0 million, and a net loss before taxation of £0.4 million. Optima Health expects to enhance operational efficiency and aims for the business to be EBITDA earnings accretive in its first full year post-acquisition.
As part of its ongoing strategy, Optima Health will continue to explore additional opportunities for growth through potential acquisitions and market consolidation.
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