Apax Partners sells Healthcare at Home to Hutton Collins
30 July 2007
London, UK, 30 July 2007 – The shareholders of EGX Limited ("Healthcare at Home”), which include the founder Charles Walsh and funds advised by Apax Partners, the private equity firm, have agreed the sale of the Company, the leading provider of complex healthcare in the home environment. As part of the transaction, the management team, led by Charles Walsh and Mike Gordon, will remain majority shareholders.
Founded in 1992, Healthcare at Home is the market leader in the provision of complex home healthcare services within the UK serving some 40,000 patients annually. Over the past 15 years, the Company has built up clinical and operational expertise in delivering complex healthcare services in the home environment. The Company delivers a range of healthcare services in the home environment through its two operational divisions, Speciality Pharma Services and Clinical Services.
Commenting on the sale, founder of Healthcare at Home, Charles Walsh, said: "Our aim is to shape the future of healthcare. Healthcare at Home has achieved a lot in a short time. With our new partners, Hutton Collins, we can go on to build a truly great British company"
Adrian Beecroft, Senior Managing Partner of Apax Partners, commented: "When Apax first invested in Healthcare at Home twelve years ago the Company had four employees. Today it has over 600, and provides a service of enormous value to its users. This is a prime example of private equity taking a long-term approach, helping a talented management team to create hundreds of jobs, and providing a terrific return for the pensioners whose money it invests."
Graham Hutton, of Hutton Collins, said: "We are excited to be entering into partnership with Charles Walsh, Mike Gordon and their team. Healthcare at Home has a clear vision to improve the quality of life for thousands of patients across the UK and Hutton Collins looks forward to supporting the Company through its next stage of growth."
UBS Investment Bank acted as sole financial adviser to Healthcare at Home.
Hutton Collins was advised by Investec.
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NOTES TO EDITORS
About Apax Partners
Apax Partners is one of the world’s leading private equity investment groups. It operates across the United States, Europe and Asia and has more than 30 years of investing experience. Funds under the advice of Apax Partners total $20 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services.
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