BREAKING: Prism Medical UK back on acquisition trail after purchase of Scottish patient lifting specialist
Following its sale to private equity firm Limerston Capital in December 2018, Prism Medical UK has extended its service offering with the acquisition of patient lifting and bathing supplier Assured Healthcare (Scotland) Ltd.
A specialist moving, handling and bathing equipment manufacturer and supplier which provides a full-service, including the design, installation and servicing of its equipment across various markets, Prism Medical UK has seen considerable growth since undergoing an MBO in April 2014.
Backed by private equity company LDC, Prism Medical UK made a number of high-profile acquisitions in 2014 and 2015 to expand its product and service offering, acquiring HME Ltd, The Mobility Equipment Company, Mackworth Healthcare and Smirthwaite.
In December 2018, after achieving revenues of £40million for the financial year ending November 2018, the company was sold to Limerston Capital.
Marking its first acquisition under Limerston, the move sees Stirling-based Assured Healthcare (Scotland) Ltd, joins Prism Medical UK, expanding the company’s reach in the region.
Having been in the healthcare sector for over 20 years, Assured Healthcare installs, services and repairs patient lifting and bathing equipment, working closely with the NHS, local authorities and care homes.
In addition, the Scottish company retails mobility equipment to private customers, as well as providing Lifting Operations and Lifting Equipment Regulations (LOLER) inspections and servicing of all types of patient lifting equipment.
Prism Medical UK says the addition of Assured Healthcare increases its service offering in the UK, alongside an injection of expert knowledge and skills to its existing customer base and a value proposition to new customers.
Commenting on its growth strategy back in December 2018, Joao Rosa, Limerston Capital’s founding partner, said: “Limerston is looking to support the management team’s ambitious plans for growth, both organic and through acquisitions.”
