Healthshare

Healthshare works with the NHS to provide cost effective MSK community-based healthcare services to patients. They are a clinician led organisation that design efficient treatment pathways to get people to the care they need quickly, and help them back to independence as effectively as possible. At the time they worked with 25 CCGs and serviced over 2 million patients per year.

Alpha Helix (AHCF) were hired after management received an offer from an interested trade acquiror. AHCF’s mandate was to run a partial sale process to find a suitable partner to de-risk the management team whilst maximising the retained equity stake.

For the first few months AHCF undertook a preliminary strategic consulting exercise, which involved working closely with the shareholders to evaluate and refine the growth opportunities on offer, whilst considering how best to present them to potential investors.

Following these discussions, it became apparent that if Healthshare were to add a diagnostic imaging division to their existing MSK expertise they would be able to differentiate their offering by providing a fully integrated MSK/Diagnostic pathway. This would chime well with NHS’s desire to save money by procuring more services at scale from high quality accountable partners.

AHCF used their knowledge of the diagnostic imaging sector to assist the shareholders in identifying a suitable platform to acquire, and in December 2018 Global Diagnostics was acquired. The acquisition instantly proved to be a success, as Healthshare were able to leverage their reputation and bid writing capabilities along with the Global Diagnostics brand, to successfully tender for and win a transformational diagnostic imaging contract.

During the sale process, AHCF approached a targeted list of private equity investors who AHCF knew to be interested in the sector. AHCF ran a tight process, and received 7 offers for the business, the majority of which valued the business at more than twice the valuation of the initial offer received from the initial trade party.

AHCF then assisted the management team evaluate the offers received, and after selecting a bidder, AHCF successfully coordinated the legal and financial due diligence process. In the end Healthshare were able to secure a minority investment from BGF at a highly attractive valuation.

“Gordon and Sam consistently went above and beyond the scope and tirelessly worked to structure and deliver a complex deal" Neil Cook, Co-founder, Healthshare