Clearwater International advises Latus Health on its acquisition of Industrial Diagnostic Company and ELAS Occupational Health from Citation
Clearwater International has advised Latus Health (Latus), a prominent provider of innovative employee health and wellbeing solutions, on its acquisition of ELAS Occupational Health (ELAS) a well-renowned occupational health services provider, from Citation.
Latus has delivered double-digit organic growth over the last five years, and coupled with this acquisition, forecasts revenue of €23m (£20m) in 2023. Importantly, the strategic acquisition will enable Latus Health to offer a broader range of services to an even greater reach of customers, providing an all-encompassing suite of services that meet the diverse needs of its clients.
ELAS’s 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 consistent growth trend 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.
Debt facilities from TDC’s Impact Fund were raised by Clearwater International’s Debt Advisory team to support the deal, demonstrating the firm’s joined-up approach across M&A and debt advisory services. As part of the transaction the enlarged group has made a number of key senior hires that will strengthen the existing board and help generate future growth.