Cheltenham-based Top 200 law firm BPE Solicitors has acted for AIM-quoted Totally plc, on its recent £11.5 million reverse takeover of Greenbrook Healthcare, as well as advising on the company's placing of shares to raise £9 million (before expenses).
Totally plc provides a range of out-of-hospital services to the NHS and private healthcare sector in the UK aimed at keeping people out of hospital.
The acquisition of Greenbrook Healthcare is the latest stage in the implementation of Totally plc's buy and build strategy. Greenbrook Healthcare provides urgent care services to the NHS in the Greater London area and has experienced substantial revenue growth in recent years, with revenue increasing from £23.8 million in 2016 to £33.4 million in 2018.
Totally plc also raised £9 million, before expenses, by way of a placing of new shares. A further £0.7 million was raised through an open offer of shares to existing qualifying shareholders.
BPE’s Corporate team has acted for Totally plc on a number of acquisitions and fundraisings in the past and this recent deal was led by Senior Associate, Louise Grzasko with assistance from Kathryn King.
Commenting on the deal, Louise said: “It has been a pleasure to work with Totally plc again and to be involved in the latest acquisition in its strategy to expand the group. We have supported the company on five acquisitions since the beginning of 2016 so our relationship with the Totally team is really going from strength to strength”.
Wendy Lawrence, Chief Executive Officer, of Totally plc, commented: “The team at BPE has worked exceptionally hard on this transaction and they played a key role in getting the deal to completion. I am grateful for BPE's ongoing support and look forward to working with them again in the future.”