Business
Clinovia was one of the leading independent companies providing home care for patients with long-term medical conditions.
It supported Strategic Health Authorities, Primary Care Trusts and NHS Foundation Hospitals in a broad range of therapy areas, including the delivery of pharmaceuticals to patients at home.
Market
From our research in the healthcare sector, we identified home healthcare services as a growing and under-served market in the UK and within the NHS.
The market for such services was expected to grow as the NHS outsourced more healthcare and increased investment in community and home-based services.
Strategy
We approached the owners, LVL Medical, directly, and completed the acquisition for £33.4 million in September 2003. Our strategy was to rejuvenate the business and establish it as a market leader by:
- Investing in company infrastructure and governance
- Improving performance operationally and through extending the service offering
- Entering complementary new markets organically and through acquisition
- Extending services to higher value, more complex care and to social care
Outcomes
Working closely with management we transformed the operations of the group, improving supplier contracts, banking facilities, procurement practices and governance.
We built an experienced and ambitious management team with an industry heavyweight Chairman and established a clinical governance board. By investing significantly in infrastructure, resources were focussed on service delivery and building new growth businesses in areas such as social care.
Over three years Clinovia doubled the number of employees, identified and completed five add-on acquisitions. EBITDA grew from £4.2 million in 2003 to £8.1 million at the time of sale in December 2006 to BUPA.