TDC Impact Fund backs Latus Health in two acquisitions

18/05/2023

Hull-based Latus Health, a prominent provider of innovative employee health and wellbeing solutions, has today announced the acquisition of ELAS Occupational Health (ELAS) and The Industrial Diagnostics Company (IDC) from Citation Group.

Over the last five years, Latus has delivered significant organic growth and, coupled with these strategic acquisitions, the Group will be able to offer a broader range of services to more customers, providing an all-encompassing suite of services that meet the diverse needs of its clients, further strengthening Latus’ position as a leading occupational health provider within the UK.

ELAS’ expertise in health surveillance directly complements Latus’ solutions to ensure its current and future customer base has access to a truly holistic solution for all their occupational health needs, including a unique approach in providing mobile health surveillance and on-site industrial diagnostics, such as chest x-rays, as well as audiology services, across the UK.

Latus’ market disrupting, tech-focused approach has been key to its growth over the last five years and has truly cemented its position as one of the UK’s leading providers of occupational health services. In 2022, Latus launched the world’s first connected health platform, Yodha, a pioneering technology providing integrated healthcare and wellbeing support that provides care to employees when and where they need it. The acquisition of ELAS only serves to further signify Latus’ commitment to investing in the innovative future of occupational health in its mission to create safer, healthier, and more productive workplaces.

As part of the transaction, Latus has appointed Graham Ewart as Chairman. Ewart brings extensive experience from the healthcare sector from his role as CEO of previous NorthEdge backed business Direct Healthcare Group, which was sold to ArchiMed in 2019.

Jack Latus, CEO of Latus Health, said: “We have always been committed to delivering the highest quality of care and service for our clients, whilst improving the way occupational health is delivered through the implementation of innovative digital solutions.”

“The acquisition of ELAS and IDC are a testament to that commitment, and we are excited to welcome their team of dedicated professionals to join the Latus mission. Together, we will continue to innovate and drive forward the occupational health industry under the knowledge that happier and healthier teams deliver better results.”

Vikki Blease, Head of Occupational Health at ELAS, said, “We are very excited to be part of Latus who have an exciting vision for occupational health. The Latus team are dynamic and share our passion and drive for best-in-class occupational health.”

“For clients of both Latus and ELAS, this acquisition promises a seamless transition with no disruption to existing services. Clients will continue to receive the same high-quality care and attention they have come to expect, with the added benefit of access to an even wider range of services.”

Richard Williams, Partner at TDC, said: “TDC are pleased to have supported Latus in its recent acquisition of ELAS and IDC, marking our second investment from our Impact Fund. The Fund targets SMEs across the North that were disrupted by Covid-19 and the macro-economic conditions experienced following this period, to support their recovery and with a specific focus on growing employment in the local region.”

“As well strengthening the position of Latus within the market, the transaction will also help in the acquisition of a number of key senior hires that will strengthen the existing board and help generate future growth. We look forward to supporting management as they drive the business into its next stage of growth.”

Graham Ewart, Chairman at Latus Health, said: “Latus Health continues on a very steep growth trajectory backed by our vision to truly innovate in the occupational health space. Through both our own in-house developed technologies, and the unique offerings we have acquired, Latus are providing our ever-expanding customer base with a fully integrated and holistic package of solutions to drive value-adding productivity within the workplace.”

Latus Health was advised on its acquisition of ELAS and IDC from Citation by the Clearwater International Leeds office, led by Partner Richard Goldsack, Associate Director John Haygarth, and Director Glenn Clarke. Legal advice was provided by the Shoosmiths Leeds office, led by Partners James Foster and Simon Procter. And financial and tax advice by Martin Athey, Charles Evers, Fletcher Adamowicz and Emily Caine of Translink CF, the specialist CF division of BHP. TDC legal advice was provided by the Pinsent Masons Manchester Office, led by Partner Tim Fearn and Catherine Donnelly.