Healthcare Enterprise, a new healthcare private equity advisory firm, is to list on AIM following Interactivity’s reverse takeover of the group. Interactivity is an AIM-listed cash shell, which has agreed to acquire the entire issued share capital of L&P MCC. The latter is a joint venture between London & Pacific Healthcare Development, a life sciences and private equity advisory firm, and Moore, Clayton & Co, a global strategic and financial advisory company, for 1.18 billion shares.
The enlarged group has been renamed Healthcare Enterprise Group and admission to AIM and trading of the enlarged share capital is expected to commence on March 11. Upon admission the company will have some 1.37 billion shares in issue.
Stuart Bruck will lead the board of the new company, as its executive chairman. Michael Low will join him as chief operating officer and Lyndon Gaborit as finance director. The other directors will be Nick Brigstocke, Tony Moore and Mark Tompkins.
Stuart Bruck, proposed executive chairman, said: “As the UK and mainland Europe healthcare sectors become more competitive and commercially-focused we have the opportunity to use our skills to grow emerging healthcare companies on a global stage.”
Healthcare Enterprise Group will provide advisory business planning and development services to emerging healthcare and life sciences companies. It has a diversified portfolio of some 13 clients in the US, UK and Germany. The company will help to transform early stage ideas and companies into viable, cash-generative enterprises. The focus will be on innovative technology and service-based companies that can significantly impact the provision of healthcare services. Revenue will be derived from retainer income and transaction fees payable in cash and/or equity.