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James Bullock, leader of the Brachers team.

James Bullock, leader of the Brachers team.

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Brachers advises on a management buyout for leading healthcare business

James Bullock, leader of the Brachers team.

James Bullock, leader of the Brachers team.

The Corporate team at Kent-based law firm Brachers has advised on a management buyout of UK Medical Ltd, from its US parent company Becton Dickinson & Co (“BD”), a $10billion revenue global medical technology group.

UK Medical Ltd, a leading healthcare company based in Yorkshire, specialises in the supply of interventional medical devices to the NHS and the private healthcare sector. Its products are used in minimally-invasive image-guided procedures to diagnose and treat diseases in various organs of the body. The company has a particular focus on devices used in breast radiology, urology, interventional radiology and cardiology.

Speaking at the announcement of the buyout, Ian Aaron, MD of UK Medical, said: “This is a great deal for both companies and we look forward to a continued and long partnership with BD.” 

Mr Aaron continued, “We have exciting plans to grow the business and to partner with the NHS by supplying products that add value, improve patient care pathways and at the same time provide excellent value. We are very excited to be making a difference to patients and to the NHS.”

James Bullock, who led the Brachers team, commented: “Having worked with Ian and the UK Medical team for many years, I am personally delighted to see the successful completion of this management buyout.  Ian has been pivotal to the success of the business over the years and now has the platform to drive it forward and achieve great things!”

Don Gray and David Bellamy from BHP Corporate Finance acted as lead advisors to the UK Medical management team.  Don Gray, partner, commented:  “We are absolutely delighted to have worked with Ian and his team to deliver the buy-out from BD.”

Funding for the transaction was provided by HSBC. Chris Alsop, Relationship director, added “This is a great business in a strong and growing sector – we are very pleased to support the management team in this buyout.’’  

Founded in Sheffield in 1987, UK Medical was originally bought by US healthcare company CareFusion in 2012. CareFusion itself was subsequently acquired by Becton Dickinson in 2015. Reflecting on the new change of ownership, Ian Aaron commented: “I am delighted that UK Medical is once more an independent business and I would like to thank the teams at Brachers, BHP and HSBC for helping me achieve a long-held ambition.” 

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