CELSUS GROUP

WHY

Celsus Group is a leading provider of temporary medical services and staffing to the primary care and acute care sectors. Founded in 2008, the business partners locum doctors and nurses with healthcare providers including GP surgeries, hospitals, urgent treatment centres, telemedicine providers, and to a lesser extent, non-healthcare providers such as prisons and the MoD. As a market leader within the primary care sector with a strong reputation amongst its clients, candidates and clinicians, the business had seen consistent growth in revenue and profitability. This was despite little focus on key areas such as business development as well as several years of underinvestment in key business systems and functions including IT, compliance and CRM. Given this, it was clear there were several opportunities to grow the business and improve performance.

Celsus operates in a highly attractive market. Significant labour shortages across the NHS necessitate the demand for locums, intensified further by an increasing trend of GPs opting to work as Locums as opposed to being employed full-time by one practice. In addition, we identified that the highly fragmented nature of the locum industry provided a significant opportunity for value creation through bolt-on acquisitions. Given our long-term attraction to the healthcare sector, our extensive experience within the industry, and understanding of the business, we became the only credible buyer.

WHAT

Having completed the transaction in early March 2020, it was only a week into our ownership when the first national lockdown began. We used 2020 to accelerate the operational changes we had sought to make over the first few years of ownership. This included cementing the medical services proposition of the GP Division; improvements to performance management including a restructure of the management team and the enhancement of business-wide KPIs; the implementation of new IT, telephony and CRM systems; and the tightening of key processes such as compliance and payroll.

WHERE

Coming out of Covid, greater focus on client account management, business development and marketing should enable the business to deliver considerable top-line growth. Within the Acute division, we see considerable opportunity to gain further market share in what is a large fragmented market and we have recently launched the Acute Doctors division in line with this.