Member Article

Gateley Legal advises Prism Medical on the acquisition of health care manufacturer

The Birmingham office of Gateley Legal has advised Prism Medical Healthcare (Prism Medical) on its acquisition of Harvest Healthcare Ltd (Harvest).

Backed by London based private equity investors, Limerston Capital, the acquisition of Harvest is Prism Medical’s third acquisition in under a year since Limerston Capital acquired a controlling stake in the company in December 2018.

Prism Medical are providers of specialist moving, handling and bathing equipment for elderly, disabled and mobility disadvantaged clients in a range of care environments, from community care to schools, hospitals and care homes. With over 30 years of experience in designing, developing and manufacturing, providing and installing bespoke mobility and care solutions, Prism Medical have an established track record of working closely with carers and their clients across the UK.

Corporate partner Andrew Cowan led the deal and was supported by corporate solicitors, Matthew Smith and Jack Elms.

Andrew said “We are really happy to complete another deal for Prism. It’s a really positive, significant step for the business and an exciting time to be working with them when they are expanding at such a rapid rate and this acquisition is further evidence of their appetite for growth.”

Stuart Meldrum, chief executive officer of Prism Medical said “The investment from Limerston Capital has been vital to our growth strategy. This acquisition will significantly increase the size of our business and demonstrates the commitment of our investors; Limerston Capital, to the continued growth of Prism Medical.

“We would like to thank the team at Gateley Legal for their straightforward, commercially focussed legal advice throughout the process.”

South Yorkshire based Harvest, offer a comprehensive range of pressure care equipment from profiling beds, static and active mattresses and cushions through to moving and handling equipment, as well as a full range of services, including replacement, servicing and repair.

The acquisition of Harvest allows Prism Medical to enter the pressure area care market and substantially increase the Group’s reach in care homes, hospitals and loan stores.

Harvest Managing Director Neil Davis will join the Prism Medical Executive Management Team, heading up the Group’s Long-Term Care division under the Harvest brand, ensuring the Company continues to provide high quality care solutions to healthcare environments across the UK.

This was posted in Bdaily's Members' News section by Dani Marsh .