An award-winning manufacturer of healthcare products has been bought by its management team.
Direct Healthcare Services, based on Caerphilly’s Western Industrial Estate, is a specialist provider of skin pressure care products such as mattresses and cushions.
Founded in 2009, DHS works with a range of healthcare clients, including the NHS, and exports to more than 20 countries worldwide. The management buyout was backed by private equity fund NorthEdge Capital with an undisclosed sum, and was led by Managing Director Graham Ewart, European Sales Director Stuart McAllister, Operations Director Gerry Boyle and Asia Pacific Sales Director Dermot Patterson. Jon Lewis will stay on as R&D Director.
Under their leadership, sales have grown by more than 50% over the past two years to £10.6m.
The company employs over 80 staff and in 2015 expanded its manufacturing facility by 40% to 45,000sq.ft. and invested in new state-of-the-art machinery in order to meet growing demand for its products.
In 2014 it was named as one of the fastest growing companies in Wales in the Fast Growth 50 list.
NorthEdge has acquired a majority stake in the company and its Chairman Michael Joseph, will join DHS’ board.
Graham Ewart, Managing Director at DHS, said: “The partnership with NorthEdge is a significant milestone for DHS. We are fortunate to be working with a team who not only share our vision for business growth, but fully support our unremitting dedication to delivering the best customer value.
“This funding allows us to accelerate our growth aspirations and continue to invest in what matters most to our customers – delivering genuine innovation. With a top class management team now in place and the support of NorthEdge we are truly excited about what we can achieve together.”
Jon Pickering, Director at NorthEdge Capital, said: “It has been a pleasure working with the team at DHS and we are delighted to conclude this investment.
“The team has a robust plan in place and I am confident that with our expertise and ability to offer follow-on funding, their market-leading platform will continue to develop even further.”
• DHS has won a prestigious Queen’s Enterprise Award for Innovation for its Dyna-Form mattress, which is designed to save the NHS vital time and resources by reducing the incidence of pressure ulcers in hospital patients.
Mr Ewart said: “We would like to thank our hard-working and dedicated team, without whom we could not have achieved this recognition.
“We are committed to investing in the local community and providing more employment opportunities for local people.”
“Delivering genuine innovation that makes a real difference to both patients and the lives of our hardworking healthcare professionals is at the very heart of everything we do, so we are incredibly honoured to receive such a prestigious award.”