At the date of the appointment, the company and its main trading subsidiary, Ultrasis UK Ltd, were operating two distinct business units: an occupational health clinic in London trading as the Waterloo Health Clinic, and an e-health business providing online healthcare services, primarily to mental health patients.
Immediately following their appointment, the Joint Administrators entered into an exclusivity agreement to sell the business and assets of the e-health operation. It is expected that this transaction will complete shortly.
The Joint Administrators also granted a new licence to trade the Waterloo Health Clinic to To Health Ltd, which has been trading the Waterloo Health Clinic since 7 August 2015 under a previous licence.
Paul Flint, Joint Administrator and associate partner at KPMG, said: “We are hopeful of concluding a deal in short order to enable the sale of the two business units. Should a successful sale be achieved, this will ensure that those reliant on the e-health offering remain able to access those vital online applications when required.”
This appointment follows the appointment of Paul Flint and Brian Green of KPMG LLP as Joint Administrators of Screenetics UK Ltd, a subsidiary of the company, on 2 June 2015. Screenetics UK Ltd operated a standalone health screening business which was sold immediately following the appointment of the Joint Administrators in June.
Katy Broomhead, Senior PR Manager, KPMG LLP
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.