LDC takes majority stake in AGENTIS HEALTH GROUP

Founder Laurence Sprey sold Ashtons Hospital Pharmacy Services, the Brighton-based medicines management provider he had established, to LDC in a management buyout completed in March 2020. LDC director Christian Bruning and investment director Joe Tager led the investment and joined the board, while the existing management team of chief executive Yachna Tak, chief pharmacist Martin England and finance director Keith Hersee stayed on with LDC's backing. Silicon Valley Bank provided the banking facilities. At the time of the deal, Ashtons (renamed Agentis Health Group after the deal) employed 90 people and generated revenue of , after growing by 70 per cent over the previous three years. LDC's investment was to fund organic growth, the further development of the company's software services and the expansion of its pharmaceutical warehousing and distribution network. EMC Corporate Finance acted as lead advisor to Ashtons and its management, with DMH Stallard advising the company on legal matters, Osborne Clarke advising management, and PwC on tax. LDC was advised by Clearwater, BDO on financial and tax matters, DLA on legal matters, Candesic on commercial due diligence, Intechnica on IT and Matrix on insurance.