DHG reports 49 per cent growth and £85m turnover for latest financial year
Despite a difficult economic environment, medical device manufacturer DHG (Direct Healthcare Group) has reported a 49.7 per cent growth in turnover for its latest financial year.
The company has reported a turnover of £85 million for the past 12 months (against a previous year turnover of £59.8 million for 2020), attributing growth to strong performance within its rental & service and safe moving & handling divisions, and the launch of six new products, as well as a continued execution of its strategic acquisition strategy.
As a manufacturer of medical devices for patients whose lives are impacted by reduced movement, DHG provides pressure ulcer prevention, moving and handling equipment, specialist therapies and bathroom safety solutions to hospitals, acute care environments, residential care homes and private homes.
Founded in 2009, DHG currently holds 15 per cent market share across Europe for its category, with a direct presence in five European countries, and further distribution in 35 countries across Asia, North America and Australasia. The company was awarded the Queen’s Award for Enterprise in International Trade in 2021.
In the UK, it supplies over 56,000 specialist mattresses each year to 39 NHS Trusts and to private facilities across the UK, in addition to providing emergency rentals and equipment.
The company’s stellar performance follows multiple acquisitions, including Dutch patient handling solutions manufacturer United Care BV, and UK-based manufacturer, Talley Group Ltd, in March 2021. It is expecting to make further acquisitions over the next year.
Graham Ewart, CEO at DHG comments on the company’s success: “Despite economic and sector turbulence, we have successfully navigated the environment to enter 2022 in a stable and successful position. We are now a truly international group with pan-European operations, and our growth in the past 12 months is testament to our strategy.
“We have seen the typical seasonal surges in autumn and winter, and although we experienced logistical difficulties as a result of the supply chain crisis in Q3, I’m pleased that we have been able to overcome these with minimal impact on our bottom line.
“Our Service and Rental line continues to grow, and exacerbated by the COVID-19 pandemic, remains the fastest growing part of the business in the UK.”
Forecasting further growth for 2022, Ewart confirms the company will build on the successful launch of its SMARTresponse system and double down on innovation in its R&D department over the next 12 months.
He continues, “As leaders in the market, we will continue to drive innovation and clinical evidence generation within patient handling, investing further in our R&D department and recognising its pivotal importance to the growth of DHG.
“Our groundbreaking Dyna-Form SMARTresponse is a novel product which perfectly demonstrates how the integration of technology can drive the healthcare sector forward. It not only supports clinical time pressures and helps those at the front line of our sector via it’s remote capabilities, but simultaneously provides care to a best-in-class level for the patient.
“In addition to our ongoing commitments to ESG and ensuring sustainability plays a core role in our business, our geographical expansion also continues. We look forward to increasing our position within pressure ulcer prevention in our core European markets, specifically across the Netherlands and the Nordics which we believe hold huge potential.”
“I’m very pleased with the strong position that we have entered the year in, and we remain on target to become the number one in Europe in enabling patient mobility and independence.”
DHG employs over 600 people across its headquarters in Caerphilly (Wales) and five other European countries in which it has a direct presence. Earlier this month, DHG completed the acquisition of Danish patient turning system manufacturer, Vendlet ApS.https://thiis.co.uk/dhg-reports-49-per-cent-growth-and-85m-turnover-for-latest-financial-year/https://thiis.co.uk/wp-content/uploads/2022/02/DHG-Electric-Vehicle-Mock-up-1-1024x576-1.pnghttps://thiis.co.uk/wp-content/uploads/2022/02/DHG-Electric-Vehicle-Mock-up-1-1024x576-1-150x150.pngNewsroomSupplier NewsTrade NewsDHG,Direct Healthcare Group,Dyna-Form SMARTresponse,financial,turnoverDespite a difficult economic environment, medical device manufacturer DHG (Direct Healthcare Group) has reported a 49.7 per cent growth in turnover for its latest financial year. The company has reported a turnover of £85 million for the past 12 months (against a previous year turnover of £59.8 million for 2020),...Liane McIvorLiane McIvorliane@thiis.co.ukAdministratorTHIIS Magazine