LDC takes minority stake in Connect Health

The investment will go towards accelerating the company's organic growth strategy.

The firm first made contact with the management team of the company in 2018. Connect Health appointed Grant Thornton to advise in December 2019, according to Unquote sister publication Mergermarket. Negotiations were completed in April 2020. 

LDC has made several investments in 2020, including in Ashtons Hospital Pharmacy Services, James and James Fulfilment and Solid Solutions Management.

Company
Headquartered in Newcastle, Connect Health is a provider of integrated community musculoskeletal services, including orthopaedics, pain remedies, rheumatology and occupational health in the UK. Founded in 1989, the company employed more than 540 employees as of 2019.

For the year ending on 30 June 2019, Connect Health reported revenues of £31.2m, up from £25.4m in 2018. EBITDA grew to £1.65m, up from £1.171m in the prior year.

People
LDC – Gareth Marshall (head of Newcastle, Yorkshire, North East); Mike Barker (investment director); Zara Lane (origination director).

Advisers
Company – Grant Thornton (corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Healthcare
• United Kingdom
• healthcare
• LDC
• Minority investing