News
LDC completes £100m exit of PAM Healthcare
27 Mar 2026
LDC, the private equity investor which is part of Lloyds Banking Group, has completed its exit of PAM Healthcare Limited (“PAM”), a leading preventative healthcare specialist, to Optima Health PLC (Optima), the UK’s leading provider of technology enabled corporate health and wellbeing solutions.
The transaction values the business at £100m and follows regulatory approval from the Irish Foreign Direct Investment (FDI) regime.
Headquartered in Warrington, PAM provides occupational health and wellbeing services to blue-chip corporate and public sector clients. Its services include health surveillance, absence management, physiotherapy, employee assistance programmes and specialist assessments, which are delivered by more than 450 employees and supported by a network of associate clinicians.
LDC completed a minority investment in PAM in 2021 and has helped the management team to deliver organic and acquisitive growth. This has included developing new products and services, completing three strategic acquisitions and launching a dedicated training academy in Warrington.
During the five-year partnership, PAM more than doubled revenue from £29m to £67m. It also expanded the number of employees it supports from 600,000 to more than 1.5 million across more than 1,500 client organisations. In 2022, the business launched its social value blueprint, Do The Right Thing, to help its workforce, clients, stakeholders and communities to live better, healthier and happier lives.
The transaction was led by Rob Powell and Richard Ibbett at LDC.
We’re grateful for LDC’s support over the past five years. Their partnership has been instrumental in our transformation. They backed our ambitious growth plans, supported us through three acquisitions and helped us invest in our people and infrastructure, including our training academy."
Chris continued: “Joining Optima is the natural next step, enabling us to enhance our offering and reach even more organisations. We’re looking forward to what’s next.”
Richard Ibbett, Investment Director at LDC, added: “PAM has delivered exceptional growth, driven by strong demand for high-quality occupational health services across both the public and private sectors. The business has combined consistent organic wins with successful M&A, while maintaining its reputation for service excellence. We’re proud to have backed the team through this period of expansion and wish them continued success as part of Optima.”
LDC has a successful track record in the healthcare sector, having invested £448m into 19 businesses across all sub-sectors, including healthcare services, pharma services and HealthTech & devices, over the last decade.
LDC and PAM were advised by EY Parthenon, DLA, KPMG and OC&C.
Optima was advised by Eversheds-Sutherland, A&O Shearman, and Panmure Liberum.