Healthcare 21, the Cork-based medical services firm, has received the go-ahead to complete its purchase of Aquilant from H2 Equity Partners.
The healthcare solutions supplier received approval today from the Competition and Consumer Protection Commission to allow for the takeover.
The newly combined business employs more than 450 staff in Ireland, UK, Germany and Austria and has a turnover in excess of €150m.
This latest acquisition follows the expansion of the Healthcare 21 group which has doubled in size over the last two years.
As part of the acquisition, H2 Equity Partners will become a substantial minority shareholder in the newly enlarged group which will focus on investing in Europe to drive growth.
Healthcare21 Group Chairman Owen Curtin said: “The combination of Aquilant and HC21 represents a fabulous opportunity. The scale of our now expanded Healthcare21 Group and the experience and talent of our people will ensure significant growth and success for all involved. I look forward to us realising this potential together.
“Aquilant is an ideal addition to the Healthcare21 Group and offers an expanded product portfolio in many exciting therapy areas that Healthcare21 previously did not serve including cardiothoracic, spinal, orthopaedic and neurosurgical specialties.
The Healthcare21 group says it is focused on increasing its portfolio scope within its existing partners as well as continuing to look for new partners as part of its European expansion.