On Friday 16 October 2015, Paul Flint and David Costley-Wood of KPMG LLP were appointed Joint Administrators of Ultrasis UK Ltd. This follows their appointment as Joint Administrators of Ultrasis plc, its ultimate parent company, on 9 October 2015.
Ultrasis plc and Ultrasis UK Ltd together operated 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 the appointment, the e-health business and assets of Ultrasis UK Ltd were sold to 365 Health and Wellbeing Ltd. The e-health business continues to trade and its small number of employees have transferred to the purchaser. The Joint Administrators were assisted in this transaction by their legal advisers, Turner Parkinson LLP.
The Waterloo Health Clinic continues to operate under licence to ToHealth Ltd. It is expected that a sale of the clinic will complete shortly.
Paul Flint, Joint Administrator and Associate Partner at KPMG, said: “Following a complex sales process, we are pleased to have concluded the sale of the online business, which will protect the mental health services relied on by a significant number of patients. We are hopeful that the sale of the group’s remaining business and assets, including the Waterloo Health Clinic, will be concluded this week. We will release further information once matters are concluded.”
Katy Broomhead, Senior PR Manager, KPMG LLP
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