Sheffield healthcare business completes MBO from US parent company

A Sheffield-based healthcare company has completed a management buyout from its US parent.

UK Medical Ltd specialises in the supply of interventional medical devices to the NHS and the private healthcare sector.

The company’s products are used in minimally-invasive image-guided procedures to diagnose and treat diseases in various organs of the body. It has a particular focus on devices used in breast radiology, urology, interventional radiology and cardiology.

Founded in Sheffield in 1987, UK Medical was formerly part of Becton Dickinson & Co (BD), a $10bn revenue global medical technology group.

The company was originally bought by US healthcare company CareFusion in 2012. Carefusion itself was subsequently acquired by Becton Dickinson (BD) in 2015.

Ian Aaron, managing director of UK Medical, said: “This is a great deal for both companies and we look forward to a continued and long partnership with BD.

“We have exciting plans to grow the business and to partner with the NHS by supplying products that add value, improve patient care pathways and at the same time provide excellent value. We are very excited to be making a difference to patients and to the NHS.”

Don Gray and David Bellamy from BHP Corporate Finance acted as lead advisors to the UK Medical management team.

Don Gray, partner, commented: “We are absolutely delighted to have worked with Ian and his team to deliver this cross-border buyout from BD.

“Our region is highly regarded for its healthcare companies and the deal demonstrates that there is a strong appetite to support innovative, high quality management teams in this sector.”

Funding for the transaction was provided by HSBC’s South Yorkshire Corporate team.

Chris Alsop, relationship director, added: “This is a great business in a strong and growing sector – we are very pleased to support the management team in this buyout.”

Legal advice to the management team was provided by Brachers.

James Bullock, who led the Brachers team, also said: “Having worked with Ian and the UK Medical team for many years, I am personally delighted to see the successful completion of this MBO.

“Ian has been pivotal to the success of the business over the years and now has the platform to drive it forward and achieve great things!”

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