Optima Health: Occupational health firm set to demerge from owner and list on AIM
Optima Health has announced that later this month it plans to demerge from its owner, Marlowe, and list on AIM, a sub-market of the London Stock Exchange.
The occupational health and wellbeing firm, which holds offices in Sheffield, said its admission to AIM is expected to occur on 26 September, and that the demerger will result in Optima Health being independent of Marlowe on admission.
Jonathan Thomas, chief executive officer of Optima Health, said: “We are excited by the prospect of an AIM listing for Optima Health, which we believe will give us an opportunity for us to build and deliver significant value for our investors and employees, as well as providing additional visibility and transparency to our business.”
Optima Health said that it has “no intention” to raise new capital through an offer or sale of shares in connection with the admission.
The company added that Marlowe will not retain any beneficial interest in the share capital of Optima Health following the admission.
For the 12 months ended March 31 2024, Optima Health together with its subsidiaries reported revenue of £110.9m, down slightly from £115.3m the year prior.
The firm also reported adjusted EBITDA of £18m, down from £21m in 2023.
Optima Health said that it hopes to capture a 25 per cent market share of the UK occupational health market, which is forecast to grow to £1.4bn by 2028.
Mr Thomas added: "Optima Health is well positioned to continue to take advantage of the large and growing occupational health market in the UK.
“Our successful track record of growth, both organic and through the acquisition and successful integration of a number of transformational and bolt-on businesses, has provided us with the critical mass to provide an unrivalled breadth and level of service to our customers.”
On admission, the company’s board will consist of six directors. Alongside Mr Thomas will be Julia Robertson, Heidi Giles, Adam Councell, Simon Arnold and Mike Ettling; three of which are independent non-executives.
Optima Health expects to report its unaudited interim results for the six months ended September 30 by early December.
The company works across a range of sectors including manufacturing, construction, professional and transport and logistics services, as well as the UK's Blue Light organisations, Civil Service and NHS.