Healthcare 21 Group (HC21) strengthened its UK operations with the acquisition of Harrogate-based Cardio Solutions (UK) Ltd.
Founded in 2005, Cardio Solutions has grown into one of the UK’s foremost independent distributors of cardiothoracic, vascular, electrophysiology and interventional cardiology products through the UK and Ireland.
Over fifteen years, whilst serving the NHS, HSE and private hospitals throughout the UK, the newly acquired Yorkshire business has built up and developed strong partnerships with the world’s leading suppliers of cardiac implantable devices, consumables and surgical instrumentation to provide a complete solution package for open, minimally invasive and port access surgery.
The acquisition completed this month is the latest milestone in the significant expansion of the Healthcare 21 Group that, in less than three years, has seen the business virtually triple in size.
Bringing to nine the number of regional centres within the group, including Wiesbaden in Germany, HC21 markets, distributes and supports a diverse portfolio of medical devices and products for almost one hundred of the world’s top medical equipment manufacturers. The inclusion of Cardio Solutions’ range of specialist products will further help to support surgeons and improve the lives of the patients they treat, whilst being sensitive to the financial pressures facing public and private health services.
The newly combined business now employs more than 500 staff in the UK, Ireland, and Europe, with a turnover now set to exceed £150m (€165m), representing the world’s top healthcare OEMs across its four European markets.
Owen Curtin, group chairman for Healthcare 21, said: “This is our first acquisition of 2020 and reaffirms our significant specialisation strategy and expansion programme in the highly innovative MedTech industry.
“The inclusion of Cardio Solutions, its products and portfolio, underpins our goal within the UK and European healthcare sector to be the number one, best in class provider of specialist sales, marketing and technical service solutions.
“This latest addition in our rapidly growing family of products and businesses will help drive sales and growth for our partnership network of global, healthcare manufacturers and thereby go onto further improve healthcare outcomes for communities worldwide.”
Mark Woolley and Mark Bailham, co-founders of Cardio Solutions, will remain with the company to spearhead cardiovascular operations within the group. They said: “We are hugely excited by the opportunity to help grow the cardiovascular division and build upon the most coveted sales and distribution operation in the UK healthcare market.
“Our incorporation into the HC21 Group, with its world-class reputation for excellence and reach, offers us a unique opportunity to expand our market presence whilst securing long-term continuity for our current suppliers, emerging supply partners and customer base.”
This latest deal follows hot on the heels of the acquisitions of digital imaging specialists, Xograpgh, at the end of 2019 and the significant purchase of MedTech distributor Aquilant, in the previous year, which, Curtin adds, underlines the company’s “unequivocal commitment” to its current, and future partners.
HC21 was advised by Eversheds Sutherland and Grant Thornton, and the shareholders of Cardio Solutions were advised by the Leeds office of Bevan Brittan and Novis & Co.