Panmure Liberum acts as Adviser, Broker and Sole Debt Adviser to Optima Health Plc on its £100m acquisition of PAM Healthcare Limited
Optima Health ("Optima" or the "Company") is the UK’s leading provider of technology enabled corporate health and wellbeing solutions. On 16 February 2026, the Company announced it had entered into a SPA to acquire the entire issued share capital of PAM Healthcare Limited ("PAM"), one of the UK and Republic of Ireland's leading occupational health and wellness service providers, for a consideration of £100 million on a debt-free, cash-free, normalised working capital basis (the “Acquisition”). The Acquisition completed on 26 March 2026.
The Acquisition cements Optima's position as the leading provider of occupational health and wellbeing services in the UK and builds upon Optima's existing presence in Ireland. The acquisition is a transformational step forward in achieving its target of £200 million revenue and £40 million adjusted EBITDA (20% adjusted EBITDA margin) in the medium term as the Company executes its long-term strategic plans, creating a holistic and integrated service offering deepened in breadth and scale in the Company's core markets.
The Acquisition was funded through a combination of new secured debt facilities of £70,000,000, and an unsecured bridge facility of £30,000,000 entered into between the Company and Deacon Street Partners Limited. In order to repay the Bridging Loan, the Company has announced today, the launch of an underwritten Open Offer for approximately £35,000,000 at an issue price of 175 pence per Open Offer Share.
Panmure Liberum Team
Senior Adviser – Nicholas Wells
Investment Banking – Emma Earl, Rupert Dearden, William Goode, Mark Rogers, Rauf Munir, Gaya Bhatt
Debt Advisory - Dan Howlett, Ben Handler
Equity Research – Julie Simmonds
Sales and Investor Relations - David Cox, Connie Owens
