A healthcare firm is targeting significant European expansion after completing the purchase of Basingstoke-based Aquilant Limited from H2 Equity Partners in a deal which creates a €150m (£131m) annual turnover business.
The group, which has an office based in Leeds, sealed the deal after receiving approval for it from Ireland’s Competition and Consumer Protection Commission.
The expanded business now employs 450 staff and has become the largest privately-owned healthcare sales and marketing specialist in the UK and Ireland.
The company, which has itself doubled in size in the past two years, is a specialist supplier of healthcare products and solutions.
Its customers include the HSE, the NHS, private hospitals, primary and community healthcare professionals and veterinary and pharmacy suppliers, and many of the largest medical OEMs and healthcare product businesses in the world.
Healthcare 21 Group Chairman Owen Curtin said: “There is a huge consolidation opportunity in European healthcare – a company wanting to distribute in the EU has to do deals with multiple distributors. We have major plans for expansion in Europe, both organic and by acquisition.”
As part of the new acquisition, H2 Equity Partners will become a substantial minority shareholder in the newly-enlarged firm, which will focus on investing in Europe to drive future growth.
The combination of HC21 and Aquilant will create a new market-leading group of specialist medical sales teams with an in-depth understanding of the healthcare market.
The immediate target for the new business will be to build on a substantial client base in the UK, Ireland, Germany and Austria.
Healthcare 21 Group will continue to be led by founding directors Curtin, Tara Kearney and David Frederick.
Curtin added: “The combination of Aquilant and HC21 represents a fabulous opportunity. The scale of our now expanded Healthcare 21 Group and the experience and talent of our people will ensure significant growth and success for all involved. I look forward to us realising this potential together.
“Aquilant is an ideal addition to the Healthcare 21 Group and offers an expanded product portfolio in many exciting therapy areas that Healthcare 21 previously did not serve including cardiothoracic, spinal, orthopaedic and neurosurgical specialties.
“In addition, the Aquilant business infrastructure with a substantial UK presence will ensure that both companies can maintain focus on their current plans and continue to deliver world class outcomes for our customers.”