Nomura acquires stake in PMG
01/03/08 Nomura article - click to enlarge
Nomura buys Premier Medical
Nomura News 01/03/08 - Nomura Private Equity, the buyout arm of the Asia-based investuuent bank, has acquired a majority stake in Premier Medical Group for an undisclosed sum.
Premier Medical Group is a new organisation formed out of the merger of Premier Medical, a leading provider of independent medical report services with annual revenues of £16m, and Medico-LegalReporting, an established provider of medico-legal reports with annual revenues of £ 19m.
The new organisation will have relationships with a broad base of experts, producing 106,000 reports each year for solicitors as part of accident-related medical claims funded by insurers and employers.
Nomura said the group would create a stable platform from which to strengthen and streamline its current medical reporting services as well as to develop complementary clinical services in rehabilitation and occupational health delivered in primary care settings.
Dr Harry Brunjes, founder of Premier Medical, will become the chairman of the new group. Jason Powell,
managing director of Premier Medical, has been appointed chief executive and Jeremy Ellison, chief executive of Medico-Legal Reporting, will take the role of group finance director.
Andrew Healey, head of Nomura’s private equity team, said: ‘We have been watching the medical reporting sector with interest and believe the time is right for consolidation in the market. This was an exciting opportunity for Nomura to be involved with a growing business in a sector that demonstrates great potential.
`Premier Medical and Medico-Legal Reporting share a common culture focused on service excellence and a complementary client base. This represents an excellent platform to extend its market reach in medical reporting and develop new healthcare related services. We are looking forward to being part of the group’s exciting journey to pole position in the industry.’
- Related link: Nomura press release