Wed, 23 Oct 2024 | BUSINESS SALE
OH Services, which specialises in carrying out medicals for people working at sea, has been bought by occupational health provider Latus Group.
Hull-based Latus Group works with businesses across a range of sectors to improve staff health & wellbeing and enhance employee engagement. It provides services across Occupational Health, Health Surveillance, Testing and Screening and Employee Wellbeing including its own proprietary health platform Yodha which helps clients access digital health surveillance services.
OH Services delivers highly specialised bespoke medical assessments tailored to the needs of the oil & gas, maritime and safety critical industries. It operates from two key clinic locations in North East Lincolnshire and Yorkshire.
Latus Group, said the first deal since it received investment from private equity firm NorthEdge in July to launch strategic M&A, would broaden its medical expertise and increase its geographical reach. It will also provide the business with greater access to the strategic markets of maritime, offshore renewables and oil and gas.
In addition, following the acquisition, it plans to open new strategic locations, including in Aberdeen and Norwich, to service these industries on a national scale.
“OHS is highly complementary to the Latus Group, which has a regional approach with national scale, and a commitment to delivering world-class service for customers,” said Jack Latus, chief executive of Latus.
Lynne Harrison, managing director of OH Services, added: “OHS plays a vital role in the maritime and offshore market, supporting national companies with regulatory-driven healthcare services. We believe this acquisition will further enhance the quality and reach of these offerings.”
Employee wellbeing has become a more important topic for corporates in recent years particularly with the impact of the Covid pandemic, a rise in absenteeism and growing understanding about mental health issues.
Studies have found that having a preventative health and wellbeing programme can reduce absenteeism and boost productivity. Indeed one Harvard Business Review report found that companies with robust employee wellness programs saw a 19 per cent drop in absenteeism rates compared to other firms.
Read more about the rationale behind the NorthEdge investment in Latus
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