AURELIUS sells operating business of Transform Hospital Group to Y1 Capital
Munich, August 16, 2022 – AURELIUS announces the disposal of Transform Hospital Group’s operating business to the UK-based private equity firm Y1 Capital. The transaction includes the cosmetic surgery and medical aesthetics business. Transform Hospital Group (THG) was formed, during AURELIUS’ ownership, from the merger of separate businesses Transform and The Hospital Group.
In the UK, THG is a provider of healthcare and wellbeing services in surgical and non-surgical cosmetic procedures, as well as weight loss treatments. THG has approximately 330 employees and operates a network of 11 outpatient clinics in England and Scotland, as well as operating two dedicated state-of-the-art surgical procedure hospitals. The company was founded as Transform in 1974, is headquartered in Manchester and initially started in the hair treatment business. In 1984, the first hospital was opened in Bowdon (South Manchester). By 1996, the first clinic was opened in Scotland. A flagship cosmetic surgery hospital was launched in Manchester in 2005. Transform was acquired by AURELIUS in 2015 and subsequently merged with The Hospital Group in 2016. In 2020, THG demonstrated its importance to the UK healthcare system, adapting its hospital operations to help support the NHS in the COVID-crisis.
Following a competitive sale process, the private equity-healthcare specialist Y1 Capital has been identified as the buyer best suited to further unlock the company’s full potential. Y1 Capital owns a portfolio of trading healthcare businesses across the UK and Europe. Therefore, the buyer will be able to take advantage of synergies with their Signature Medical business, which offers Cosmetic Surgery and Hair Transplants. The former THG-Chief Executive Officer and current Chief Executive Officer of Y1 Capital, Tony Veverka, will also be able to support the business with his deep market expertise.
“The last few years have been exceptionally challenging – especially in the healthcare sector. During the COVID-crisis, the THG team made an enormously valuable contribution to safeguarding access to healthcare in the UK, whilst supporting the NHS. Our thanks goes to all involved at THG, for their ongoing efforts. Under the ownership of Y1 Capital, AURELIUS looks forward to seeing THG thrive, utilising the synergies with Signature Medical.”, says Gerhard Engleder, Vice President at AURELIUS.
Signing and closing of the transaction took place on August 15, 2022. While the operating businesses for cosmetic surgery and medical aesthetics is sold to Y1 Capital, AURELIUS will continue to own The Pines hospital located in Manchester. The financial terms of the deal are not being disclosed.