Livingbridge-backed Vanguard Healthcare Solutions has acquired Dutch-based healthcare facilities design company Young Medical for an undisclosed sum.
Vanguard has more than two decades of experience in providing additional clinical capacity to replace or supplement existing healthcare infrastructure.
The company provides mobile solutions ranging from operating rooms to sterilisation facilities. Its solutions can be used to maintain services during refurbishment, service reconfiguration, emergency situations such as natural disasters, or to help reduce long waiting lists.
Young Medical, based in Amersfoort, Netherlands, provides modular medical facility solutions, both temporary and permanent.
‘Young Medical’s offering provides a logical extension to Vanguard’s capabilities. As our customers’ requirements increase in scale and complexity, we are increasingly providing mixed modality solutions,’ said David Cole, chief executive officer of Vanguard. ‘This acquisition means that we can now offer a truly holistic approach to the healthcare facilities market providing the flexibility to quickly deliver turnkey, customised solutions that can easily be adapted to meet changing demands in functionality or capacity.’
As reported in August, Vanguard continued to feel the impact of dampened NHS demand in 2018 but said steps taken to realign the business were successful in 2019.
Revenue was down £1.1m on 2017 to £12.9m in the year ended 31 December 2018 as NHS trusts limited additional waiting list activity following the removal of penalties for breaching the 18-week referral to treatment time target. Despite cost containment, EBITDA was down to £4.1m from £5.5m after exceptional costs of £600,000 in relation to repositioning the business.
However, Cole told HM revenue in 2019 was expected to be up around 55% to approximately £20m, while EBITDA was projected to increase 70% to c.£8m.
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