Inuvi expands with acquisition of Express Diagnostics

Inuvi has acquired Express Diagnostics Ltd, a leading provider of diagnostic services to the NHS, the independent healthcare sector and the clinical trials industry.

Founded in 1994, Plymouth-based Express Diagnostics is the UK’s largest provider of remote Holter analysis and ECG interpretation. It specialises in providing cardio-respiratory diagnostic services as well as audiology and health screening services.

PKF Francis Clark supported Inuvi on the acquisition, with Sam Phillips and Tom Slade carrying out financial due diligence, and tax due diligence provided by Nicola Manclark and Callum West.

Sam and his team invested time in understanding our requirements and it was a pleasure to work with them collaboratively throughout the due diligence process.

Dave Armstrong, corporate finance director at PKF Francis Clark, was responsible for introducing Inuvi to Express Diagnostics. He said: “Over the past 29 years, Express Diagnostics has grown to become a leading cardiology service provider for the NHS and clinical trials industry, as well as establishing its own private clinic in Plymouth. The acquisition of Express Diagnostics complements Inuvi’s existing health assessment and laboratory testing businesses. We were pleased to advise on this high-profile transaction for the city of Plymouth and wish the combined group continued success.”

Dawn Oatley, Group CFO at Inuvi Group, said: “Sam and his team invested time in understanding our requirements and it was a pleasure to work with them collaboratively throughout the due diligence process. We agreed the scope of their work up front but as our focus on aspects of the business evolved, the team were very flexible and able to adapt their approach accordingly. The quality, timeliness and relevance of their due diligence reporting was excellent, and good communications were maintained throughout the project.”

Wokingham-based Inuvi delivers over 100,000 health assessments and phlebotomy visits every year through its national network of mobile health practitioners and completes millions of blood tests at its laboratory.

CEO Jonathan Benton added: “We are delighted to welcome Express Diagnostics to the Inuvi Group. Express Diagnostics’ expertise in offering easily accessible, high-quality cardiology and audiology services is a significant addition to the Inuvi Group, broadening the range of services we offer and further establishing Inuvi as a leading provider of expert diagnostic services.”

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