Ramsay Health Care has agreed to acquire one of the UK’s leading independent mental health care providers for £775m from private equity firm BC Partners.
The acquisition of Elysium Healthcare follows a lengthy due diligence process, with Ramsay identifying ‘strong synergies and excellent potential for cross-collaboration and growth’.
Managing director and chief executive Craig McNally said it was an exciting opportunity to expand into the UK mental health care market.
Craig MacNally, Ramsay’s CEO
He said: ‘Ramsay already operates more than 70 mental health facilities alongside our acute care operations in Australia, France and Sweden. This is an attractive and compatible opportunity for Ramsay to expand into the UK mental health market and grow our integrated patient pathways.
‘As strong partners to the NHS, Ramsay UK and Elysium are a natural fit. Our shared focus on operational excellence and employing industry-leading talent will support exceptional patient care across the UK’s acute and mental health sectors.’
The deal is expected to create significant value for Ramsay’s shareholders, as Elysium’s strong business plan and clear strategy position it for significant growth in the next five-plus years.
Mr McNally said Elysium would operate as a new and complementary division to Ramsay’s existing UK hospital business.
‘The acquisition allows us to share best practice and our global expertise in mental health care, with both businesses committed to supporting the NHS.
‘Elysium already has an impressive track record and Elysium’s expert managers, clinicians, nurses and carers will continue providing outstanding services.’
Elysium chief executive Joy Chamberlain said Ramsay’s ethos of ‘people caring for people’ matched her company’s principle of putting patients at the heart of everything it does.
‘Increasing awareness and diagnosis means there is strong demand for high-quality mental health care across the UK,’ she said.
‘Being part of the Ramsay group will improve our patient pathways, providing care when and where people need it most, and strengthen our partnership with the NHS.
‘Our priority is to continue offering a range of personalised, high-quality care that’s focused on the best outcomes for each patient.’
The acquisition is expected to be finalised in early 2022.
Ramsay UK operates 41 facilities and is a leading independent provider to the NHS, caring for over 200,000 patients annually with support from over 7,000 staff and 3,000 consultants.
Elysium Healthcare is a leading independent mental health care business in the UK, established in 2016 with 22 facilities. Since 2016, it has grown from 22-sites and 900 beds to 72 sites with around 2,000 beds and 6,000 employees across England and Wales.