ToHealth Ltd announces that it is acquiring Screenetics, a leading supplier of corporate health screenings and wellbeing services in the UK.
In the Corporate Health Assessments market Screenetics is the leading challenger to BUPA and Nuffield Health. The company has an impressive roster of corporate clients including Unilever, Aviva and Capita, as well as a network of large intermediaries that broker its health and well being services. The company also provides white-labelled screening services to a number of healthcare providers
ToHealth is acquiring certain businesses and assets of Screenetics after it was placed in administration by Ultrasis, the AIM listed company. ToHealth is the leading supplier of NHS Health Checks with contracts with over 10% of local authorities and plans to use the Screenetics brand and track record to establish a similar position in the Corporate Health market.
According to a 2013 study by PwC, the annual cost of sickness absence for UK organisations was £29bn, a rise of £1bn on 2011. The latest NHS Five Year Forward View, published in October 2014 placed a huge emphasis on preventative measures and the Government’s Health, Work and Wellbeing and Fit for Work initiatives were put in place partly to encourage employers to improve general health within their companies.
Commenting on the acquisition Robin Skinner, Managing Director of ToHealth said, “We see huge growth potential for the corporate health screening market. Our own research carried out by YouGov in last year found that 67% of employees without an on-site healthcheck available to them would be interested in attending one. The acquisition of Screenetics means that ToHealth is well placed to capture this growing demand.”
Kevin Hollick, Director, Screenetics also commented, “We are pleased to be joining forces with ToHealth and believe that by combining our sector knowledge and resources we are in a very strong position moving forward. We are very excited about this next phase and the new products and services that we intend to launch in the next few months. At Screenetics we are passionate about empowering people to take ownership of their health and we believe this deal gives us the ability take that message to a wider audience.”