Private equity firm NorthEdge has invested into Latus Group (Latus), an occupational health service provider, to support the business accelerate organic growth and deliver strategic M&A.
NorthEdge is backing the founders, Jack Latus (CEO), Sam Latus (COO) and Will Latus (CIO), alongside Alex Birkett (CFO) and their team of medical specialists and support staff, to deliver an ambitious plan.
Latus is headquartered in Hull and works with businesses across a range of sectors to deliver world-class health strategies to support regulatory compliance; improve colleague health & wellbeing and enhance employee engagement – in turn reducing absenteeism and relieving wider pressures on the NHS through a preventative approach to health.
The company’s mission is to improve access to high-quality, data-driven healthcare in the workplace. To achieve this, Latus provides a range of services across Occupational Health, Health Surveillance, Testing and Screening and Employee Wellbeing.
Over the last two years, as well as delivering strong growth, the business has completed two strategic acquisitions and launched its proprietary health platform, Yodha. The on-demand platform enables customers to access digital health surveillance services, streamlining the user experience and providing better data for leadership teams to make decisions about the health & wellbeing of their workforce.
NorthEdge’s investment will support the business to continue on this growth trajectory. The growth plan includes additional investment into people and the operational platform; improving commercial effectiveness; investing in customer success; and further investment into technology to support the shift to a digital health operating model.
In addition, the investment will support the business to execute an M&A strategy to facilitate end-market, service-line and geographical expansion.
Jack Latus, CEO of Latus, said: “We have been building our relationship with NorthEdge for two years, so the completion of this investment represents a significant milestone for us. As well as the clear cultural fit and sector experience, the NorthEdge team have already supported us to find an experienced Chair and M&A Director, alongside helping us to refine our organic growth plan and M&A strategy.
“This investment will allow us to accelerate our growth and further expand our reach – delivering more high-quality occupational health services for our clients that improve health outcomes, by ensuring employees across the UK have the health support they need, whenever they need it and wherever they are.”
Phil Frame, Partner at NorthEdge, said: “Latus is a leader in its field and the team have the ambition of building a business with strategic and social importance.
“The business operates in a large and growing market; has a track record of delivering growth; is committed to introducing new and innovative approaches in the sector to improve health outcomes; and the team’s approach aligns perfectly with NorthEdge’s culture and values – we are delighted to have another business with these characteristics in the NorthEdge portfolio.
“We are looking forward to working with Jack, Sam and Will over the coming years to support them to realise our collective ambitions and build a business that we are all proud to be a part of.”
The deal was funded from NorthEdge Fund III and was led by Phil Frame, Partner, alongside Matthew Mellon and Mike Craven, Investment Managers. Phil Frame will join the board on behalf of NorthEdge, alongside Non-Executive Chair Graham Ewart.
