First Class Healthcare Deal for Livingstone
February 2008
First Class Deal for LivingstoneLivingstone Partners has announced the creation of Premier Medical Group, the UK’s largest provider of medical opinion with a combined turnover of £35m and a total of 210 employees, through a £27m merger of Medico-Legal Reporting (MLR) and Premier Medical, a provider of independent medical services.
The Business Services sector team at Livingstone advised the management of MLR, which was the subject of a management buy-out backed by 3i in 2001.
Premier Medical Group, with offices in Ludlow and Pangbourne, will combine the expertise and best practices of both companies to develop a comprehensive database for companies seeking advice on issues such as life insurance and pre-employment medicals. It will also produce more than 100,000 medical reports per annum for legal and insurance professionals working on accident and injury related claims. The merger was made possible with growth capital from Nomura Private Equity.
The Livingstone team was led by Simon Cope-Thompson and Kristian Gavan. “This merger brings together two respected companies to provide a more collaborative approach to medical reporting,” commented Simon. “We are very pleased to have worked with Medico-Legal Reporting and 3i and are confident that this is good news for the two companies, its customers and the sector as a whole.”
Jeremy Ellison, CEO of MLR comments: “I was delighted with the support and advise that the Livingstone team provided throughout the process. Trying to complete two deals at the same time is never easy, but their experience and perseverance made a real difference.”
3i Director Graham Miller: “As we have found in the past when completing deals with the Livingstone team, they took a very proactive approach. Given this very positive experience and the successful relationship we have developed, I am looking forward to working with them on a number of further deals in the future.”
For further information contact Head of Business Services sector team:
Jeremy Furniss
Tel: 00 44 20 7484 4703
Email: jfurniss@livingstonepartners.co.uk
If you would like to receive more details about any of the events underlying any of the news items or press releases above, please email Ann Wilson.
