AJM Healthcare – which provides services for more than 100,000 wheelchair users across 13 locations – is embarking on a new chapter after receiving fresh private equity investment.
The company has secured funding from Livingbridge, which said it is “firmly committed to AJM’s clinically-led model and focus on market leading outcomes”.
It has vowed to support AJM’s growth and enable more service users to benefit from its high standards of service delivery.
“We are very pleased to be partnering with such an inspiring company as AJM Healthcare,” said partner James Titmuss.
“Our focus will be on helping the business to offer its vital services to more wheelchair users, while preserving the high standards of care and clinically-led model that are so valued by commissioners and service users.”
AJM provides wheelchair and mobility solutions to the NHS, local authorities and individuals across the UK, employing more than 270 staff.
It provides services to over 30 clinical commissioning groups, making it one of the UK’s leading providers of integrated wheelchair contracts.
Stephen Peck, CEO of AJM Healthcare, said: “We are delighted to be taking this next step in our growth journey with Livingbridge, a partner with an abundance of experience in the healthcare sector, and one that shares our vision of delivering wheelchair contracts the right way.”
The transaction sees existing private equity house WestBridge exit the business. It has been working with AJM Healthcare since supporting the original MBO of the company three years ago.
As well as introducing operational improvements and investing in the company’s head office, WestBridge has helped AJM enhance its clinical and corporate governance, refine its operational processes and procedures, introduce new IT systems and review its approach to tendering, all of which has helped to deliver substantial new contract wins and improved performance to its commissioning groups and service users.
WestBridge has also helped embed ESG initiatives across its operations. In the last 12 months alone, the amount of mobility stock recycled or refurbished by AJM has more than doubled, while it is well on the way to having a fully electric fleet of vehicles.