LONDON: Optima Health (AIM: OPT), a leading U.K. provider of corporate health and wellbeing solutions, announced Tuesday it has agreed to acquire the trade and assets of Care First, a mental health services provider, from Priory Group for £350,000 (£15,000 net). The deal, structured on a cash-free, debt-free basis, is set to close June 2, 2025.
The acquisition will expand Optima Health’s mental health service offerings, integrating Care First’s operations with its existing employee assistance program (EAP) services. The deal adds over 1,000 new customers and brings approximately 40 employees with specialized expertise, strengthening Optima’s market position.
Jonathan Thomas, CEO of Optima Health, said the deal supports the company’s growth strategy. “Care First aligns with our expertise in occupational health, creating scale and cross-selling opportunities,” he said. “We look forward to integrating the business and exploring further strategic acquisitions.”
Under the agreement, Optima will pay £350,000, adjusted by £335,000, resulting in a net consideration of £15,000. The purchase will be funded through existing financing.
Care First reported unaudited revenue of £4.4 million for the 12 months ending December 2024. The acquisition follows Optima’s strategy to expand in high-margin sectors with growth potential.
Optima Health provides technology-driven health and wellbeing solutions for businesses across the U.K.