Catalyst completes third healthcare deal of 2012
CATALYST Corporate Finance’s Birmingham team has advised on the sale of Medicals Direct Group (MDG) to Capita plc for a price of up to £15.2m.
Middlesex-based MDG provides outsourced medical screening services for UK life insurers and has around 180 employees across six offices. It made a pro forma operating profit of £2.25m on revenue of £18.6m for the year ended December 31.
London plc Capita is a business process outsourcing and professional services company. It delivers back office administration and front office customer contact services to private and public sector organisations across the UK and Ireland.
Commenting on the deal, Capita chief executive Paul Pindar said: “MDG provides more than 150,000 medical screenings every year, primarily to the life and pensions sector. The acquisition adds new capabilities to Capita by, for example, allowing Capita to enter the home-based screening market.
“This investment works well with our existing portfolio of clinic and mobile unit screening services, aligns our health proposition with Capita’s existing life and pensions business and adds important new capability to large scale contracts we may be targeting in the wider private and public sectors.”
This is the third healthcare deal that Catalyst has completed this year. Partner Richard Sanders said: “Our knowledge gained from having advised several businesses in this sector, coupled with our insight into Capita’s acquisition strategy, was critical in ensuring a successful outcome for the shareholders.”
