Spire Healthcare Group announced on April 1 that it is acquiring Acorn Occupational Health for an initial cost of £3.3 million (approximately $4.3 million).
Acorn Occupational Health provides occupational health services to corporate clients across multiple sectors, as well as public sector clients including the NHS. According to the original deal press release from April 1, 2025, Acorn generated EBITDA of approximately $812,700 in 2024.
Spire Healthcare Group is a leading independent hospital group in the United Kingdom. The company’s 39 hospitals and eight clinics across England, Wales and Scotland provide diagnostics, inpatient, day case and outpatient care to insured, self-pay and NHS patients. According to Spire, occupational health services a core part of its primary care services business, which grew revenue by 15% to approximately $156 million in 2024 with EBITDA of approximately $13.3 million.
“Our ambition is for Primary Care to become a [greater than] GBP40 million EBITDA business in the medium term, delivered through further contract wins in mental health/occupational therapy, more new clinic openings and small M&A. The acquisition of Acorn represents another step in working towards this ambition,” Spire said.
Acorn management may receive a “small further deferred consideration payment,” dependent on its EBITDA in the 12-month period after the acquisition. Acorn’s core management team will stay with the business following the takeover.
According to data in the LevinPro HC database, this transaction represents the fifth occupational health transaction of 2025. There were 11 occupational health deals announced during 2024, 19 announced in 2023 and 10 announced in 2022. At the current pace, occupational health deals are on track to outpace the totals of the previous three years, signaling a potential surge in activity within this sector.
