Double acquisition for occupational health provider
Hull-based Latus Health, a provider of employee health and wellbeing solutions, has acquired ELAS Occupational Health (ELAS) and The Industrial Diagnostics Company (IDC) from Citation Group.
The acquisitions have been backed by private credit provider TDC’s Impact Fund.
Over the last five years, Latus has delivered significant organic growth. Coupled with these strategic acquisitions, the group says it will now be able to offer a broader range of services to more customers.
ELAS’s expertise in health surveillance is intended to complement Latus’ own solutions and includes provision of mobile health surveillance and on-site industrial diagnostics, such as chest x-rays and audiology services.
As part of the transaction, Latus has appointed Graham Ewart as chairman.
Ewart brings extensive experience from the healthcare sector from his role as CEO of previous NorthEdge backed business Direct Healthcare Group, which was sold to ArchiMed in 2019.
Jack Latus, CEO of Latus Health, said: “We have always been committed to delivering the highest quality of care and service for our clients, while improving the way occupational health is delivered through the implementation of innovative digital solutions.
“The acquisition of ELAS and IDC are a testament to that commitment, and we are excited to welcome their team of dedicated professionals to join the Latus mission.”
Vikki Blease, head of occupational health at ELAS, said: “We are very excited to be part of Latus who have an exciting vision for occupational health. The Latus team are dynamic and share our passion and drive for best-in-class occupational health.
“For clients of both Latus and ELAS, this acquisition promises a seamless transition with no disruption to existing services.”
Richard Williams, partner at TDC, said:“TDC are pleased to have supported Latus in its recent acquisition of ELAS and IDC, marking our second investment from our Impact Fund.
“The Fund targets SMEs across the North that were disrupted by Covid-19 and the macro-economic conditions experienced following this period, to support their recovery and with a specific focus on growing employment in the local region.”
“As well strengthening the position of Latus within the market, the transaction will also help in the acquisition of a number of key senior hires that will strengthen the existing board and help generate future growth.”
Ewart added: “Latus Health continues on a very steep growth trajectory backed by our vision to truly innovate in the occupational health space.
“Through both our own in-house developed technologies, and the unique offerings we have acquired, Latus are providing our ever-expanding customer base with a fully integrated and holistic package of solutions to drive value-adding productivity within the workplace.”
Latus Health was advised on its acquisition of ELAS and IDC from Citation by the Clearwater International Leeds office, led by partner Richard Goldsack, associate director John Haygarth, and director Glenn Clarke.
Legal advice was provided by the Shoosmiths Leeds office, led by partners James Foster and Simon Procter.
Financial and tax advice was provided by Martin Athey, Charles Evers, Fletcher Adamowicz and Emily Caine of Translink CF, the specialist CF division of BHP.
TDC legal advice was provided by the Pinsent Masons Manchester Office, led by partner Tim Fearn and Catherine Donnelly.