Mon, 16 Feb 2026 | BUSINESS SALE
A preventative healthcare specialist is set to be acquired by a listed group in a deal worth approximately £100 million. The acquisition of PAM Healthcare Limited by Optima Health will provide an exit for private equity firm LDC.
Warrington-headquartered PAM Healthcare provides occupational health and wellbeing services, including health surveillance, physiotherapy, absence management, employee assistance programmes and specialist assessments.
The company’s serves a blue-chip corporate and public sector client base, with a team of more than 450 employees, supported by a network of associate clinicians.
Optima Health has now entered into a share purchase agreement to acquire the entire issued share capital of the company, which has been backed by LDC since 2021, for a total cash consideration of approximately £100 million.
In the year to December 31 2025, PAM Healthcare Limited reported unaudited revenue of around £66.6 million and adjusted EBITDA of £8.2 million, with the total cash consideration reflecting an EBITDA multiple of approximately 12.2x.
According to Optima, the acquisition of PAM Healthcare will cement its position as a leading UK provider of occupational health and wellbeing services, as well as building upon the group’s existing presence in Ireland.
The acquisition will also support its medium-term target of achieving revenue of £200 million and adjusted EBITDA of £40 million.
The deal will be financed partly through new committed secured debt facilities of £70 million with the group’s existing banking partners, Barclays and HSBC, and partly through an unsecured £30 million short-term related party bridge facility with Deacon Street Partners.
Optima Health Chief Executive Jonathan Thomas described the deal as a “transformational acquisition underscores our intent in delivering our stated strategic objectives and cements Optima's position in its attractive and growing market.”
He continued: "The acquisition of PAM is highly complementary and synergistic for Optima and has been a high priority target for a number of years. With our strong track record for delivering bolt on acquisitions and our excellent market dynamics, the board and I are very confident about our future growth trajectory.
The acquisition is subject to approval from the Irish Department for Trade, Tourism and Employment's Foreign Direct Investment regime.
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