Lyceum sells Clinovia to BUPA for £87.7m

The mid-market firm has netted a healthy profit on its investment in Clinovia, a home healthcare services provider.

Lyceum Capital, a private equity firm that invests in mid market service businesses, has sold Clinovia, a UK home healthcare services provider, to BUPA, a UK private hospitals and healthcare group, for a total of £87.7 million.  

Lyceum acquired Clinovia from France’s LVL Holdings in a £32 million transaction in August 2003.  Under Lyceum’s ownership, Clinovia has invested in additional resources and facilities to expand and to make five strategic acquisitions. 

The company has increased the number of patients served per month to 8,500, up by 70%, and driven turnover up 69% to £102 million in 2006. 

The company now employs 450, double the number employed in 2003. 

Lyceum has supported Clinovia with the appointment of a non-executive chairman, Sir Don Cruickshank, the former chairman of the London Stock Exchange.

Lyceum won its independence from WestLB, a German bank.