Optima Health expands with BHSF Occupational Health acquisition
Optima Health PLC on Thursday said it will acquire BHSF Occupational Health Ltd from BHSF Group Ltd for £1.4 million, in a deal expected to bolster its clinical capabilities and customer base.
The Sheffield, England-based software provider for the occupational health sector said the acquisition will add £8 million in annual revenue and approximately 60 experienced occupational health clinicians.
Optima said the transaction aligns with its strategy of expanding its presence in the occupational health sector and delivering workplace health and safety solutions.
Optima Chief Executive Officer Jonathan Thomas said: ‘The acquisition of BHSF Occupational Health is an exciting step in our plans to expand our delivery of optimised occupational health and wellbeing services, and aligns with our strategy of delivering targeted M&A to accelerate growth.’
BHSF Occupational Health generated £8.3 million in unaudited revenue and a gross profit of £3.0 million in the 12 months to November 30, 2024. However, it reported a pretax loss of £400,000, which includes corporate head office costs that will not continue under Optima’s ownership. Optima expects the acquisition to be earnings before interest, taxes, depreciation, and amortization accretive after the first full year of integration.
The acquisition will be financed through existing funds, with completion anticipated by the end of January 2025.
Shares in Optima Health were up 1.3% at 142.31 pence in London on Thursday afternoon, giving the company a total market capitalisation of £126.3 million.
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