Posted on 20th November 2018
Shareholders have accepted an offer from CBPE Capital (CBPE) for the purchase of a majority interest in the UK-based prosthetics and orthotics supplier Blatchford. Terms of the transaction are undisclosed.
Family shareholders will continue to retain a substantial interest alongside the management team, in a transaction that provides Blatchford with the strong financial resources to pursue its growth aspirations and help build its future position in a rapidly consolidating industry.
Founded in 1890, Blatchford is a world-leading prosthetic designer, manufacturer and rehabilitation provider, delivering life-changing products and services. Its portfolio includes a multi award- winning range of prosthetic lower limb components, such as Linx, the world’s most advanced microprocessor controlled lower limb. Its rehabilitation services have a particular emphasis and expertise in lower-limb prosthetics, orthotics, special seating and wheelchair provision, including clinical services for civilian and military patients in the UK and Norway.
CEO Adrian Stenson commented, ‘Our industry is advancing rapidly: state-of-the-art manufacturing and world-class research and development are capital-intensive. Our partnership with CBPE will allow us to continue to invest in our business, develop our processes, enhance the customer experience and ensure we remain highly competitive and a natural choice for our customers in the global marketplace.
CBPE has a track record of successful direct investment in the healthcare area and we look forward to working closely to continue delivering exceptional outcomes for patients and stakeholders alike.’
Major shareholder and non-executive director Stephen Blatchford said, ‘This investment from CBPE will give Blatchford the financial firepower to compete more effectively in the global P&O market and grow to become a leading player in the sector. I am looking forward to being a shareholder and director through this exciting period for our company.’
Naveen Passi, Director with CBPE, said ‘We are very excited to be involved in Blatchford and backing the team as the business embarks on the next phase of its development. There are numerous opportunities open to Blatchford and we look forward to supporting the team in delivering on their growth plans.’
Blatchford is a world leading rehabilitation provider with clinical expertise in prosthetics, orthotics, special seating and wheelchairs. It designs and manufactures the multi award-winning Endolite range of lower limb prostheses and provide clinical services to patients in the NHS, military and internationally. With 128 years of innovation and expertise, it produces the world’s most advanced microprocessor-controlled artificial limbs.
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