Primary care group 24-7 Healthcare is in the sights of potential strategic and private equity buyers, and has called in the bankers to help capitalise on the interest.
Street Talk can reveal 24-7 Healthcare’s shareholders, spearheaded by private equity firm Crescent Capital Partners, have appointed RothschildCo as financial adviser after attracting unsolicited inbound interest from parties looking for a way into the growing GP care and telehealth services market.
The group has an estimated 65 per cent of the medical deputising market and deals with more than 500,000 patients a year.The whole business is underpinned by a large workforce - possibly the largest mobile medical workforce in the country - with about 300 doctors and 110 nurses on its books, meeting patients in-person and via telehealth appointments.
Interested parties have been told 24-7 Healthcare’s management has plenty of plans for the business, but is seeking a new investor to back their growth ideas. It will be interesting to see where the business lands. Private equity firms have been all over GP businesses in recent years, with BGH Capital snapping up Healius’ doctors and dentists arm and UK firm Livingbridge acquiring South Australia/Queensland group Better Medical.
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