Home Health Exclusive: Optimo buys Safehands marking its second acquisition in a month

Exclusive: Optimo buys Safehands marking its second acquisition in a month

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Home care services provider Optimo Care Group has bought Safehands Support Services, a domiciliary care provider based in Oldham, HealthInvestor can reveal. The transaction follows Optimo’s acquisition of Mayday Homecare in Bolton a little over two weeks ago.

Safehands, established in 2011 by Caroline Simms, provides a range of care services specialising in domiciliary care, currently delivering around 1,500 care hours per week to around 150 clients. It employs around 75 staff.

Founded in 2010 by Mark Hales and Richard Walker, the Oxygen Enterprise Partners-backed Optimo consists of seven subsidiary companies: TLC Homecare, Choices Homecare, Warrencare, Town & Local Care, Care with Choices, Mayday Homecare and now Safehands. Optimo delivers over 14,500 hours of care per week to service users across the North of England, employing more than 800 people.

Optimo generated revenue of around £12.4 million and EBITDA of £1.1 million in the year ended 31 July 2021, according to its most recent filed accounts.

The value of the deal remains undisclosed. As reported by HealthInvestor, the Mayday deal added around 40% to the company’s revenues. The group anticipates that this acquisition will add a further 15% moving forwards, this publication is told.

Commenting on Optimo’s pipeline of acquisitions, Ben Hales, head of M&A at Optimo, told HealthInvestor: “We hope to complete two more acquisitions before the end of the calendar year, and anticipate a further two in the first quarter of 2023.”

He added: “We are really pleased to have completed this deal and for Safehands to become the latest addition to the Optimo Family. This has been a great deal for all involved and I would like to say thank you to Caroline for all her work over the last 11 years.

“This deal compliments our acquisition strategy, acquiring another strong homecare business which furthers the breadth of our offering in the market and further cementing Optimo as one of the region’s leading community care providers.”

Richard Walker, chief executive at Optimo, said: “I am delighted to welcome Safehands into the Optimo family and we look forward to working with the Safehands team into the future”

Safehands staff and management will remain with the business. Optimo has plans to further increase the size of the team through further expansion of its services.

Optimo was advised by Oxygen Enterprise Partners (M&A), Freeths LLP (Legal), and TC Murray Harcourt Limited (Financial). Safehands were advised by Setfords Solicitors (Legal).

https://healthinvestor.co.uk/exclusive-optimo-buys-safehands-marking-its-second-acquisition-in-a-month/

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