Return just the ticket for healthcare entrepreneur | 29 September 10
A HEALTHCARE entrepreneur has bought back part of the business he sold less than a year ago in a deal advised by law firm Ward Hadaway.
Ian McCartney originally sold BCA Direct Limited to Surecalm Healthcare Holding Ltd at the end of 2009.
BCA Direct’s core business is supplying a range of prescription healthcare products and was based in South Shields.
As well as the prescription fulfilment business, the company also supplied mobility living aids to customers including local authorities and specialist retailers.
Ian McCartney has now bought back this part of the business, named Living Aids, from Surecalm and plans to grow the company as an independent venture.
It currently has sites in North Tyneside and in Blackpool.
Leading North law firm Ward Hadaway advised Mr McCartney on the acquisition of Living Aids, having advised him on the original sale of BCA Direct.
Mr McCartney said: “It is great to be back with Living Aids and the team. Surecalm are making a great success of BCA Direct, but their focus is on growing the prescription side of the business and the mobility aspect of the business was non-core to them.
“I was keen to get back running my own business so the deal made sense for both myself and Surecalm.
“The mobility business has great potential to grow in its own right having been a smaller part of BCA Direct and I believe it will really flourish as an independent business.
“There are some terrific people there with a lot of valuable experience on board and I’m looking forward to working with them to establish Living Aids as a significant name in the sector.
“Ross Patterson and the team at Ward Hadaway did an excellent job advising on the acquisition, just as they had on the sale of BCA Direct last year.”
Ross Paterson, associate in the corporate finance department at Ward Hadaway, advised Mr McCartney on the deal.
Members of Ward Hadaway’s employment and property teams also worked on the acquisition.
Ross said: “We were delighted to help Ian make a return to running his own North East business.
“Having advised on the original sale of BCA Direct, we were in the perfect position to use that experience and inside knowledge to ensure that the acquisition went smoothly.
“Ian knows this particular sector inside-out and I am sure he will use all his know-how to great effect and make the business a real success in its own right.”
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