Spire Healthcare acquires Vita Health Group for £74m

Listed private hospital operator Spire Healthcare Group has acquired Vita Health Group in a £74m deal.

Vita provides NHS outpatient mental health talking therapies, musculoskeletal and dermatology services, with operational hubs in London and four regional centres in Bristol, Orpington, Oldham and Leicestershire.

The company also offers outsourced physiotherapy and counselling services to the corporate and occupational health markets.

Vita has a customer base of 14 NHS integrated care boards, more than 300 corporates and 12 private patient clinics, with c.450,000 appointments provided in the year ended 31 December 2022.

The business is expected to generate revenue in excess of £100m and adjusted EBITDA of c.£10m in 2024.

Spire Healthcare said the acquisition would enable it to expand its capabilities into low-acuity mental health while providing synergies in working with corporate and PMI customers, and occupational health businesses.

Vita has been acquired from certain funds advised or managed by ARCHIMED, as well as certain current and former employee shareholders of Vita, for a net cash consideration of about £74m.

PMSI advised throughout the transaction, providing commercial due diligence including a review of the NHS funding landscape, impacts of ongoing NHS commissioning reconfiguration and a comprehensive understanding of Vita’s positioning within the group’s end markets.

Elizabeth Potter, Director of Strategic Projects at Spire Healthcare, commented, “The PMSI Healthcare team were pivotal to the success of our transaction – rapidly delivering an exceptionally high quality of work despite demanding timescales.”

Acquisition of Vita Health Group (eurolandir.com)