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Healthperm Resourcing (HPR)

Business description

Healthperm Resourcing is a healthcare recruitment business, established to address the significant shortfalls in healthcare professionals in the UK and Ireland and the Middle East (61/39% of 2017 revenues). It supplies permanent employees, sourced mainly from the Philippines.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 0.0 (1.7) (1.8) (20.8) N/A N/A
2017A 0.2 (1.7) (1.9) (23.9) N/A N/A
2018E 0.9 (1.8) (2.3) (26.3) N/A N/A
2019E 2.8 (0.1) (0.6) (7.3) N/A N/A

Last updated on 21/10/2018

Investment summary

Healthperm is a provider of healthcare specialists, predominately nurses from the Philippines, for which there is strong demand in its main markets of the UK and Ireland, and the Middle East. It only supplies fully qualified permanent nurses and thus helps bridge the gap in the shortage of nurses in these markets. The company was established in 2015 and is currently loss making, but a ramp-up in nurses deployed, coupled with operational gearing, should lead Healthperm to break even during 2019.

Last updated on 26/10/2018

Industry outlook

In Healthperm’s markets of the UK and Ireland and the Middle East, a growing shortage of permanent domestic nurses has created an opportunity for overseas recruitment. UK nurse levels have been affected by a decline in people choosing to train as nurses, increased numbers of nurses retiring and a sharp fall in EU applicants due to Brexit. The Middle East has a relatively low level of nurses compared to its population and healthcare demand is rising. Healthperm is also looking at new countries to place nurses.

Last updated on 26/10/2018

Key management

Steven Howson, CEO
Jonathan Sumner, FD

Company address

Churchill House
SL3 7F
United Kingdom
01753 378185
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