UK-based private equity company NorthEdge has made an investment in occupational health services provider Latus Group.
The investment aims to bolster Latus Group's growth and facilitate strategic mergers and acquisitions (M&A).
The financial terms of the transaction have not been disclosed.
NorthEdge's backing is mainly intended to help Latus Group's founding team, medical specialists and support staff to further realise the company's 'ambitious' growth plan.
Latus Group CEO Jack Latus said: “We have been building our relationship with NorthEdge for two years, so the completion of this investment represents a significant milestone for us.
“This investment will allow us to accelerate our growth and further expand our reach – delivering more high-quality occupational health services for our clients that improve health outcomes, by ensuring employees across the UK have the health support they need, whenever they need it and wherever they are.”
Based in Hull, Latus Group works with businesses across various sectors to implement health strategies that support regulatory compliance and improve employee health and engagement.
Through this, the company aims to reduce absenteeism and alleviate the strain on the National Health Service (NHS) through preventative healthcare measures.
Latus Group's services include health surveillance, occupational health, employee well-being, and testing and screening.
The company said it has achieved 'strong' growth over the past two years, completing two strategic acquisitions and launching Yodha, its proprietary, on-demand health platform.
NorthEdge's investment aims to support Latus Group’s continued growth trajectory and allow it to pursue an M&A strategy that will expand the company's end-market reach, service lines and geographical presence.
The deal was financed through NorthEdge Fund III and led by NorthEdge partner Phil Frame, with the support of investment managers Matthew Mellon and Mike Craven.
Frame is set to join Latus Group's board of directors alongside non-executive chair Graham Ewart.
