Warrington-based occupational health and corporate health services provider PAM Group is eyeing £80m in turnover and further acquisitions following its purchase of occupational health physiotherapy business of Connect Health for an undisclosed sum.
PAM Group said the deal sees 60 staff transfer from Connect Health to PAM Physio Solutions (PPS) and adds £2m in annual revenues to the business.
The combined group will now have more than 120 people servicing employers throughout the UK, and annual revenues of more than £5m.
Newcastle upon Tyne-headquartered Connect Health was founded in 1989 by Professor Andrew Walton and provides community healthcare services to NHS patients across the UK, which PAM says are unaffected by the deal and remain its core operation.
PAM Group established its physio business in 2010 to help employers to reduce absence by keeping their employees in work and maintaining their physical health and wellbeing. Its services include physiotherapy treatment, assessments and the management of musculoskeletal (MSK) disorders.
The purchase of Connect Health is the latest in a series of acquisitions for PAM Group.
It follows on from the takeover earlier this year of MedProtect, which provides mobile health screening to companies across the UK and Ireland.
The group’s other previous acquisitions include Concept Northern, based in East Kilbride near Glasgow, which is a specialist provider of neurodiversity assessments and assistive technology for people with conditions such as dyslexia, ADHD, Asperger’s Syndrome, dyspraxia, autism and Tourette’s.
In 2021, PAM Group bought 66Fit, a consumer-focused retailer of exercise, fitness and rehabilitation equipment, and Physio Supplies, a specialist provider of sports, physiotherapy and rehabilitation equipment to professionals and sports clubs.
And the group is eyeing even further growth. It employs more than 700 people and posted revenues of £45m for 2022 and is on track to reach £55m this year,
It added it is looking to grow turnover to £80m over the next few years through continued organic expansion and further acquisitions.
James Murphy, chief executive of PAM Group, (pictured) said: “The acquisition of these assets and colleagues is a perfect fit for our PPS business, and makes the expanded operation the largest specialist occupational health physiotherapy service in the UK.
“I am delighted that the new colleagues have transferred to PAM Group and look forward to working with them to build a stronger physiotherapy business to support UK employers.
“We now have 90 specialist MSK clinicians and a management team with incredible depth of knowledge in the treatment and prevention of musculoskeletal disorders. The deal allows us to consolidate the respective teams, and to improve and expand our service offering to our existing client base and to new clients.
“This is the second acquisition by PAM in 2023, and we remain optimistic for our growth and expansion plans for the PPS business in the next few years.
“Our ongoing investment and the technology solutions that we have built within the PPS business have resulted in significant increased demand for our services, as employers place more emphasis on managing and protecting the physical health of their employees.
“Our physiotherapy business works closely with our occupational health business to provide a single, integrated offering to our clients.
“We continue to look at acquisitions in the UK and overseas where they make strategic sense alongside our current business and service offerings, and are a good fit.”
