LONDON - UK-based Optima Health (AIM:OPT), a provider of corporate health and wellbeing solutions, has agreed to acquire BHSF Occupational Health Limited for £1.4 million in cash, it was announced today. The agreement will incorporate BHSF Occupational Health's team of around 60 clinicians into Optima's operations and is expected to be earnings accretive after the first full year of ownership.
The acquisition will add approximately £8 million in revenue to Optima's financials and is part of the company's strategy to strengthen its market position in the UK's occupational health sector. BHSF Occupational Health Limited, previously a part of BHSF Group Limited, offers services aimed at preventing work-related illnesses and promoting overall workplace health and safety.
Jonathan Thomas, CEO of Optima Health, highlighted the acquisition as a significant step in expanding the company's delivery of occupational health services and a key element in their targeted growth strategy. The addition of BHSF's customer base and clinical expertise is expected to enhance Optima's service offerings.
Stuart Hayhurst, CEO of BHSF Group, expressed confidence that under Optima's leadership, the business will continue to thrive, noting the shared values and commitment to excellence between the two companies.
The transaction, which is expected to be completed by the end of January 2025, will be funded using existing cash reserves on Optima's balance sheet. In the last 12 months, BHSF Occupational Health Limited reported unaudited revenue of £8.3 million and a pre-tax loss of £0.4 million, which includes shared corporate head office costs that will not continue post-acquisition. Following the integration, Optima's management anticipates operational efficiencies and improved financial performance.
This strategic move is in line with Optima Health's ongoing pursuit of growth opportunities, including potential future acquisitions to consolidate its market presence. The information for this article is based on a press release statement.
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