Healthcare group fit for growth after new acquisition

Derrick Farrell, CEO of RehabWorks

A healthcare business with bases in Manchester, Birmingham and Yorkshire has expanded its range of services following a new acquisition.

Crystal Palace Physio Group has been acquired by Archimed SAS, a health-focused private equity fund which owns RehabWorks and which also acquired Right Corecare in 2015.

The deal sees RehabWorks, which has centres in Bury St Edmunds, Manchester, Fareham, Milton Keynes, Birmingham, Glasgow, Rotherham and Swindon, further its goal of becoming a market-leading physiotherapy business.

With a turnover of about £6m and a network of 12 sites in London and the South East, Crystal Palace Physio Group is a specialist provider of Musculoskeletal (MSK) services to both the corporate and NHS markets.

Derrick Farrell, chief executive of RehabWorks, will head up the combined entity.

He said: “This is an important step in our ongoing journey of respected healthcare provision, and in pushing the business towards becoming the leading UK provider of Musculoskeletal and Mental Health solutions.”

Farrell said the expertise and experience within the Crystal Palace Physio Group would be invaluable in helping the combined business fulfil its goals.

“The NHS represents a growing opportunity for our chosen disciplines, and the ability to set up an owned network to support our growing corporate proposition will become more important over the coming years,” he added.

“Merging our businesses will be done in a careful and considered way to ensure our staff and customers benefit from the emerging operating model.”

Stuart Paterson, managing director and owner of Crystal Palace Physio Group, will remain with the combined business. He will join the board with immediate effect.

He said: “Joining the business clearly represents an exciting opportunity to create a national brand across target markets.

“The culture and brand of Crystal Palace Physio Group has always been important to us, and in RehabWorks, we believe we have found a partner that is very much aligned with our vision.”

The combined businesses will now have a staff of 334, across 20 sites around the UK.

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