Role: 1187 - THIS ROLE IS NOW CLOSED
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A Non-Executive Chair (Chair) is required for a start-up Home Care business in the Healthcare sector, based in London.
Our client is a start-up investment consortium with the objective to acquire Home Care businesses in the Healthcare sector in the UK. The company is looking to build a strong Board of Directors with diversified backgrounds in Healthcare Management, M&A transactions, Corporate Law, Entrepreneurship & Leadership.
Business Concept
- CNBC Rates Healthcare as the 2nd Largest Thriving and Profitable Industry.
- Among Forbes Top 15 Profitable Industries, 3 are within Healthcare.
- Inc Rates Healthcare to Be the No.1 among The Top 10 Hottest Industries in 2018.
- “The global healthcare market reached a value of nearly $8,45 trillion in 2018, having grown at a compound annual growth rate (CAGR) of 7.3% since 2014, and is expected to grow at a CAGR of 8.9% to nearly $11,9 trillion by 2022”.
- The healthcare market is highly fragmented, with a large number of small players. The top ten competitors in the market made up to only 7.2% of the total market in 2018.
- Healthcare expenditure is projected to reach £210.9 billion in 2023.
- Over the next 10 years the 65-84 population will rise by 39% & those over 85 by 106%.
- 57 per cent more adults aged 65 & over in England will require care in 2035 compared to 2020.
- A minimum of 627,000 extra care staff will be required by 2030/31.
- 70% of business owners in the UK have no succession plans.
- The objective of the company is to consolidate the UK’s fragmented homecare industry & related sub-sectors.
- The company will obtain deal flow & prospects through accounting & law firms and Directors. The purchase price for each of the first 5 deals will be in the range of £750k-£2m.
- The first 5 deals will be presented at the 1st board meeting which is expected to be held in Feb/Mar.
- 8 Board Meetings will be held per annum, in London.
Non Exec Chair Experience
The ideal Chairman candidate will have the following attributes:
- Health industry name Recognition experience with 15-20 years’ experience in healthcare.
- Ideally a retired accountant (Top Accountancy firm) or lawyer (top legal firm) who came up through audit OR legal profession.
- Retired Military personnel will be considered.
- Retired generalist (multiple industries) with multiple transaction experience will be considered.
- Must have Board experience as a Chair, CEO or CFO.
- M&A/Deal Advisory/Due Diligence experience - been involved in companies that have grown through acquisitions.
- Transaction experience - involved in at least 20-40 deals/£500m + deals.
- Sufficient time to dedicate 1-2 days per month and greater when deals are being evaluated.
- Preferably based within 3hrs drive/train from London.
Remuneration
- The Chair will be given substantial free Founders Equity.
- The Chair will also get a Bonus for each completed transaction.
- The target is 10-15 transactions annually.
- We are looking for someone who believes in the company’s vision and is highly dependable.
Additional Board Members and Non Execs will also be sought.
Closing date: This role will close on 17th February 2023
