North East PCR testing company signals growth ambitions with £100m acquisition plan
Salutaris People wants to acquire companies in the healthcare testing, recruitment, facilities and logistics sectors
A Tyneside healthcare business has signalled major growth ambitions with plans for a £100m programme to acquire other businesses in its sector over the next three years.
Salutaris People, which has recently begun providing PCR testing for airline passengers in the North, wants to develop a group that includes Covid 19 testing centres, healthcare recruitment, facilities management and logistics.
It is looking to acquire existing businesses across the UK operating within those sectors with a turnover of between £1m to £10m, and also to tender for Government and NHS contracts.
The company has teamed up with the Corporate Finance team at MHA Tait Walker to handle the acquisition programme.
Salutaris People was founded by Ross Tomkins, who ran Therapy Direct Healthcare and other physiotherapy firms, and he will work with MHA Tait Walker Corporate Finance Associate Partner Lee Humble on the growth plans.
Mr Tomkins said:
“We are delighted to be working with MHA Tait Walker on the corporate expansion plans for Salutrais People. Lee Humble brings a considerable amount of specialist expertise and knowledge to this client relationship, with the backing of a large advisory team in MHA.
“As an accountant, corporate finance specialist, investor and business owner, he understands both sides of the relationship, which is really important to us as we start our expansion plans.
“We aim to channel our combined 30 years of expertise in the healthcare sector to make Salutaris People a global brand. Healthcare recruitment will become a big part of our corporate offering, as we have seen the strain placed on the NHS during the pandemic and how this has then filtered down into the private sector.
“As many Government contracts in the PPE and Covid testing sectors come under rigorous scrutiny and oversight, we believe Salutaris People will be best placed to facilitate those supply chain contracts due to the very high standards and efficacy we adopt within our business practices.”
Salutaris is currently operating PCR testing suites at Liverpool John Lennon Airport and at Wilmslow in Cheshire. Centres in Newcastle, Sunderland and Stockton will open next month.
Mr Humble said:
“We are excited to be working with such a dynamic entrepreneur in Ross Tomkins. Salutaris People has an incredibly exciting future ahead both in the private and public sector, due to the nature of the markets it will operate in.
“Ross and his team bring an impressive 30-year track record in the healthcare sector to Salutaris People. This will enable the business to expand its Covid testing capability, develop its healthcare recruitment, facilities management and logistics services.
“The £100M three-year acquisition plan is more than achievable given the sectors it plans to operate in and the high standards operated by the management teams both in situ and yet to join. We have numerous funding channels open to us with a view to facilitating our growth plans and we are already in active dialogue with multiple parties who we see as a great fit.”
Find out more
If we can help with your business acquisition strategy, please get in touch with one of our corporate finance advisers by completing our online enquiry form