Optima Health acquires PAM Healthcare in £100m deal

(Sharecast News) - Technology enabled health and wellbeing solutions provider Optima Health has agreed to acquire PAM Healthcare in a deal worth around �100m, strengthening its position in the UK occupational health and wellbeing market.

Optima said on Monday that it has entered into a share purchase agreement to buy the entire issued share capital of PAM on a debtfree, cashfree basis, subject to customary adjustments.

The AIM-listed group noted that completion was conditional only on clearance from Ireland's foreign direct investment regime, which it expects within 90 days of signing.

Optima, which was spun off from Marlowe in September 2024, said the acquisition would significantly expand its scale in both the UK and Ireland and represents a major step towards its mediumterm targets of �200m in revenue and �40m in adjusted underlying.

It also noted that the purchase will be funded through �70m of new secured debt facilities agreed with HSBC and Barclays, alongside a �30m unsecured shortterm bridge loan from Deacon Street Partners. Optima intends to repay the bridge facility via a �35m underwritten open offer to qualifying shareholders at 175p per share.

Chief executive Jonathan Thomas said: "This transformational acquisition underscores our intent in delivering our stated strategic objectives and cements Optima's position in its attractive and growing market. 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."

Reporting by Iain Gilbert at Sharecast.com