Grant Thornton UK LLP’s Corporate Finance team has advised on the strategic sale of adam HTT Limited, a leading health-tech platform to The Access Group, one of the leading providers of business management software to mid-sized UK and Asia Pacific organisations.
Based in Milton Keynes, adam was founded in 2012 and is a pioneer of digital procurement technology for the public sector. It has a team of around 70 and works with more than 60 public bodies, including a number of NHS Clinical Commissioning Groups, to manage more than £600m of spend on the procurement of services often in complex care scenarios.
Following a transaction process led by Grant Thornton corporate finance directors Mike Hughes and Ryan Shields, the company has been acquired by The Access Group and will become part of its Health, Support & Care division.
Steve Sawyer, Access Health, Support & Care managing director said: “Technology continues to transform the health, support and care sectors. adams’ cloud-based commissioning tools has enabled local government and NHS procurement teams to streamline processes, connect providers and patients and react quickly to support the provision of consistent and high-quality care.
“We are committed to helping public sector bodies realise their potential to provide better health and care services in their geographies. Through adam, Access technology can help provide significant time and economic benefits to customers in the provision of commissioned services. We are on track to deliver our vision of a unique ecosystem of solutions across the health and social care spectrum aligned with the government’s strategy for integrated health and care systems resulting in better outcomes.”
Julian Young, Chairman of adam HTT, said: “We are delighted to see adam taking the next step in its journey and look forward to its continued growth and success under The Access Group’s ownership. Mike, Ryan and the Grant Thornton team have delivered an outstanding result for us, taking the time to understand our business, industry and prospects to deliver a great outcome. They provided clear, strategic and pragmatic advice throughout the process and we wouldn’t hesitate in recommending the team.”
Mike Hughes, corporate finance director at Grant Thornton in Milton Keynes said: “adam is an excellent business with a strong management team, delivering fantastic results for its customers. We look forward to seeing it thriving under the ownership of The Access Group, where it will become a platform for further growth in the health and social care sector.
“We are seeing strong investor appetite from both trade acquirers and Private Equity investors for health-tech businesses, particularly those with proprietary software which helps public health organisations achieve significant cost savings and also offers scalability and stable revenue streams.”
The shareholders of adam HTT were advised by EMW Law for legal services, led by Ian Morris and Daisy Divoka, and vendor commercial due diligence services were provided by CIL Management Consultants, led by Tom Fletcher and Charlotte Lamnea.
