Vanguard Healthcare management buy-out

October 9, 2009

Earlier this year, Vanguard Healthcare, which operates the UK national fleet of mobile operating theatres, was acquired by its management from Nuffield Health, the UK’s largest healthcare charity.

The original founders of the business have re-joined the management in order to strengthen and support the team.

Vanguard Healthcare was acquired by Nuffield Health in 2004 and has benefited from significant investment, enabling the fleet to increase to 36 – the largest such fleet in the world.

The team was supported by Robson Taylor Corporate Finance and Osborne Clarke Solicitors. Finance has been provided by MML Capital Partners and HSBC.

The HSBC team was led by Kevin Beevers, along with Paul Crocker and Lloyd Crutchley. Mr Beevers said “Vanguard is well positioned for growth within the healthcare sector It has the business model and management team to continued success.

This deal is another example of HSBC Leveraged Finance’s continuing support of corporate finance transactions in our region.”

Commercial Due Diligence work for MML Capital Partners and HSBC was undertaken by LCS.

LCS commented:

- Vanguard has a significant first mover advantage as the only provider of mobile hospitals to the NHS.

- In the past growth has come from waiting lists. LCS believes that the imminent budget cuts will not reverse government policy on waiting times.

- Vanguard will benefit from FTs increasing role in finding innovative solutions to improve performance in other Trusts.

- Government policy will continue to promote more health care in the community and increase the need for Vanguard’s visiting hospital product.