South Wales based specialist hospital, Nucleus Healthcare, has been acquired by a family-owned US investment group, Palm Ventures LLC.
The deal brings an end to Nucleus’ seed funding from the Welsh Government’s investment arm, Finance Wales, and provides significant institutional funding which will see the specialist private healthcare provider expand both its range of clinical services and geographical reach.
Charles Robinson, managing director of the London office of Palm Ventures LLC, said: “Nucleus Healthcare is a perfect fit for our investment portfolio of healthcare and education businesses. We were drawn to the company by its growing patient numbers, obvious commitment to clinical excellence and patient care and its potential to develop new, complimentary clinical services at further locations.
“We are delighted to be part of the transition from Nucleus being a seed-funded business into a healthcare organisation of significant standing arcoss the UK.”
David Harrop, Nucleus Healthcare’s newly appointed chief executive officer, said: “Nucleus has seen patient numbers grow steadily since the hospital opened in 2008, with a sharp rise of 40% during 2011 to more than 2,000 patients being treated.
“Our prime location just minutes from the M4 at junction 28 makes us easily accessible to patients both locally and from further afield. With our average patient journey being just over 70 miles, it is clear that Nucleus is providing a much needed and highly regarded healthcare service.
“The additional funding made available to the business by Palm Ventures will enable us to invest in new state of the art equipment and develop the range of services we offer and making those available far more widely.”
Financial advisors on the acquisition were Nexus Corporate Finance and FW Smith Riches & Co, with legal advice being provided by Acuity Legal and Greenberg Traurig Maher.
For further information about Nucleus Healthcare, visit www.nucleushealthcare.co.uk or telephone 01633 815900.
