Clearwater secures sale of healthcare businesses
BIRMINGHAM-based Clearwater Corporate Finance has advised business support services group DCC on the sale of its mobility and rehabilitation operation.
The buyer Patterson Medical, the UK subsidiary of US-based Patterson Companies, supplies rehabilitation and physiotherapy products.
It has acquired Physio Med Services, Ausmedic Australia Pty and Metron Holdings Pty, known as Ausmedic, and the business and assets of Days Healthcare UK from DCC.
Along with certain minority shareholders in PMS and Ausmedic, the deal was worth £31m.
Physio Med Services is based in Derbyshire and is a catalogue-based marketer and distributor of physiotherapy supplies.
Australian company Ausmedic supplies own-brand and third-party physiotherapy products in Australasia.
Days Healthcare, which is based in South Wales, is a supplier of mobility and rehabilitation products for the elderly, disabled and infirm, supplying the UK and international markets.
The deal represents Clearwater’s sixth cross-border transaction in as many months.
Clearwater partner Andy Moore led the team and was assisted by Karen Edwards, Mark Day and Ramesh Jassal.
He said: “This transaction is a good example of the increasing volume of M&A activity with US-based companies in the healthcare sector.
“It allows DCC to concentrate its focus on the remaining core of its larger healthcare businesses and its other divisions, and it provides Patterson with an excellent foothold in the European and Australasian markets.”
