Medigold Health acquires Health Management

The BGF-backed business, already a leading name in the occupational sector, will become one of the UK’s largest independent providers of workplace wellbeing solutions.

8 March 2023

Northamptonshire-based Medigold Health, a leading name in the UK occupational sector, has today announced the successful acquisition of Health Management in a bold move that will see the business become one of the country’s largest independent providers of workplace health and wellbeing solutions.

The acquisition has been supported by follow-on investment from BGF which has backed Medigold Health since 2017.

Health Management has been at the forefront of helping some of the nation’s most prestigious organisations to effectively manage the complex issues surrounding workplace health for over 20 years. With a workforce of 400 (over 30 per cent of whom are clinical professionals), it currently runs over 300 clinics nationally, providing services to over 400 clients and more than two million people.

Medigold Health’s takeover of Health Management is the latest in a series of acquisitions that has seen the company’s revenue grow by nearly 1,600 per cent in the last 12 years and comes at a time when demand for occupational health services is rapidly accelerating.

As a result of the deal, Medigold Health’s workforce will grow to over 1,100 (including a clinical cohort 600), who will now serve over 3,500 clients, representing c. 4.5 million employees (or 14% of the UK’s working population).

Medigold’s CEO Alex Goldsmith said: “The pandemic brought a fundamental shift in the way people work and how the workplace is defined, and that has forced employers to look with renewed focus at how they can adapt to better support the safety, health and wellbeing of their people as they compete to attract and retain the best talent.

“Organisations are rightly commanding more from their occupational health provision, and in response providers are increasingly having to invest more in developing new and innovative solutions, all against the backdrop of an increasingly challenging economic climate.

“In uniting decades of clinical heritage and expertise, our acquisition of Health Management will ensure we can continue meeting the current and emerging needs of the UK’s employers and, crucially, make our essential services more accessible to more businesses, allowing us to scale up our clinical capacity, expand our national footprint and broaden our offering.

“The prospect of being able to bring Health Business’ hugely talented team on board was too enticing an opportunity to turn down and I am hugely excited for what lies ahead as we begin the process of blending our two great companies together over the coming months.”

Fiona Gibson, investor at BGF, said: “We’re delighted to be providing follow-on funding to Medigold. Alex and the team are building a market leader in the field of occupational health and we look forward to supporting their ambitions on the next stage of their growth journey.”

Margaret McNab, Managing Director of Health Management, added: “This acquisition marks an exciting new chapter for Health Management, building on our 20-year track record as a trusted occupational health partner to some of country’s leading companies. We are looking forward to working with the Medigold Health team to deliver on our shared mission of helping even more employers to keep their people in work, safe and well”.

The follow-on investment from BGF follows recent strong momentum in the Central and Eastern regions of England. At the start of the year, BGF announced plans to invest £300 million in early-stage and fast growth businesses across the Central and Eastern areas of England over the next five years. In February, BGF also completed a £5 million investment in Northampton-based Soctim Advisory – a digital transformation partner for the public sectors.

BGF’s Central and East growth team, which is based in Cambridge, is focusing on the region due to the broad array of established and growing entrepreneurial businesses based throughout Northamptonshire, Bedfordshire, Buckinghamshire, Hertfordshire and across East Anglia.

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