Administrators appointed to Ultrasis UK Ltd

Administrators appointed to Ultrasis UK Ltd

Immediately following the appointment, the e-health business and assets of Ultrasis UK Ltd were sold to 365 Health and Wellbeing Ltd.

Also on KPMG.com

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.” 

 

-ENDS-

 

For press enquiries please contact

Katy Broomhead, Senior PR Manager, KPMG LLP

T: +44 (0)161 246 4623

M: +44 (0)7824 537963

E: katy.broomhead@kpmg.co.uk

KPMG Press office: +44 (0)207 694 8773

Follow us on twitter: @kpmguk

 

About KPMG 

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.

Connect with us

 

Request for proposal

 

Submit

KPMG’s new-look website

KPMG’s new-look website