18 Week Support sold
18 Week Support (18WS), a London-based group that offers insourcing support for the NHS, has been sold to private equity firm Summit Partners.
On 25 March, Tower 18 Bidco was listed as a person of significant control for 18WS on Companies House. Thomas Tarnowski and Luke Parsons, managing director and healthcare investor at Summit Partners respectively, are listed as officers on Tower 18 Bidco.
18WS was established by Dr Conal Perrett and Alexander Chilvers in 2014. Today, the group provides acute, outpatient care and diagnostic services to more than 80 NHS trusts in the UK.
In the year ending March 2021, 18WS reported revenue of £29.6 million and an operating profit of roughly £4 million.
The financial details of the transaction are not clear yet.
Investment bank Houlihan Lokey led the sale process, according to online reports.
Strategy consultancy Mansfield Advisors acted as commercial due diligence advisor to the sell side, HealthInvestor UK hears from a source familiar with the situation.
Date published: March 31, 2022