BGF injects £9.5m into Medigold

Kenny Wastell
16 November 2017

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BGF has invested ТЃ9.5m in UK-based healthcare consultancy business Medigold Health.

The fresh capital will enable the business to boltnon occupational health provider Imass Group, as well as alcohol and drug screening provider Hampton Knight. The acquisitions will expand Medigold's geographic footprint across the UK, and expand its range of services into new healthcare verticals.

The business will also pursue further bolt-on acquisitions following the transaction.

The deal is the UK's second private equity investment in the absence-management space in quick succession, following Palatine Private Equity's investment in E-Days via its impact fund.

Company
Medigold is headquartered in Northampton and was founded in 1998 by Mike Goldsmith. The company provides businesses and their employees with healthcare-related consultancy, software and support. It operates an absence-reporting call centre, offers data software for tracking absences, puts employees in contact with healthcare professionals in the event that their condition requires further attention, and helps manage employees' return to work after prolonged absences.

Medigold is anticipating a turnover of around £30m in its current financial year, according to a statement. The business generated a turnover of £16.5m in the year ending in September 2016, according to publicly available documents, with an operating profit of £700,000.

People
BGF – James Syrotiuk, Joanne Smith (investors); Mark Freer (investment director).
Medigold Health – Alex Goldsmith (CEO); Mike Goldsmith (executive chairperson).

Advisers
Equity – Howes Percival (legal); MacIntyre Hudson (tax); AKCA Consulting (financial due diligence).
Company – Hewitsons (legal); Saffery Champness (tax).