Hull-based Latus Health, a provider of tech-enhanced employee wellbeing solutions, has acquired two allied businesses as it seeks to consolidate a leading market position.
Manchester-based ELAS Occupational Health and Leicester’s The Industrial Diagnostics Companye have been bought from Citation Group.
It is a move that will see high-growth Latus offer a broader range of services to more customers, with a combined workforce of 200 across the three locations.
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Jack Latus, chief executive, said: “We have always been committed to delivering the highest quality of care and service for our clients, whilst improving the way occupational health is delivered through the implementation of innovative digital solutions.
“The acquisition of ELAS and IDC are a testament to that commitment, and we are excited to welcome their team of dedicated professionals to join the Latus mission. Together, we will continue to innovate and drive forward the occupational health industry under the knowledge that happier and healthier teams deliver better results.”
The expertise in health surveillance is described as directly complementing Latus’ solutions, with mobile and on-site diagnostics, such as chest x-rays, as well as audiology services, offered across the UK, highlighted. Turnover is now expected to hit £20 million this year.
Vikki Blease, head of occupational health at ELAS, said: “We are very excited to be part of Latus who have an exciting vision for occupational health. The Latus team is dynamic and shares our passion and drive for best-in-class occupational health.
“For clients of both Latus and ELAS, this acquisition promises a seamless transition with no disruption to existing services. Clients will continue to receive the same high-quality care and attention they have come to expect, with the added benefit of access to an even wider range of services.”
The undisclosed deal is backed by northern investment house TDC. As part of the transaction, Latus has appointed Graham Ewart as chairman. He brings extensive experience from the healthcare sector from his role as chief executive of Direct Healthcare Group, itself sold to ArchiMed in 2019.
Taking up the position, he said: “Latus Health continues on a very steep growth trajectory backed by our vision to truly innovate in the occupational health space. Through both our own in-house developed technologies, and the unique offerings we have acquired, Latus are providing our ever-expanding customer base with a fully integrated and holistic package of solutions to drive value-adding productivity within the workplace.”
ELAS launched in 1995, with IDC a year earlier. The past five years has seen Latus grow significantly under the leadership of two former Rugby League playing brothers and their former royal marine sibling.
Latus was advised by Clearwater International, with legal support from Shoosmiths and financial and tax advice from Translink CF, part of BHP. Pinsent Masons advised TDC.
Richard Williams, partner at TDC, said: “TDC are pleased to have supported Latus in its recent acquisition of ELAS and IDC. As well as strengthening the position of Latus within the market, the transaction will also help in the acquisition of a number of key senior hires that will strengthen the existing board and help generate future growth. We look forward to supporting management as they drive the business into its next stage of growth.”
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