LONDON – UK-based Optima Health (AIM:OPT), a provider of corporate health and wellbeing solutions, has agreed to acquire BHSF Occupational Health Limited for £1.4m in cash, it was announced today. The deal will bring the BHSF Occupational Health team of approximately 60 clinicians into Optima’s operations and is expected to be earnings accretive after the first full year of ownership.
The acquisition will add approximately £8m of revenue to Optima’s financials and is part of the company’s strategy to strengthen its market position in the UK occupational health sector. BHSF Occupational Health Limited, formerly part of BHSF Group Limited, offers services aimed at preventing work-related diseases and promoting overall health and safety in the workplace.
Jonathan Thomas, CEO of Optima Health, highlighted the acquisition as a significant step in expanding the provision of occupational health services and a key element in their targeted growth strategy. The addition of BHSF’s customer base and clinical expertise is expected to enhance Optima’s service offering.
Stuart Hayhurst, Chief Executive Officer of BHSF Group, expressed confidence that under Optima’s leadership the business will continue to thrive, highlighting the shared values and commitment to excellence between the two companies.
The transaction, which is expected to be completed by the end of January 2025, will be financed using existing cash reserves on Optima’s balance sheet. In the last 12 months, BHSF Occupational Health Limited reported unaudited revenue of £8.3m and a pre-tax loss of £0.4m, which includes the common costs of the company’s head office which will not continue after the acquisition. After the integration, Optima’s management foresees operational efficiency and improved financial results.
This strategic move is in line with Optima Health’s continued pursuit of growth opportunities, including potential future acquisitions to consolidate its market presence. The information for this article is based on a press release.
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