Baywater Healthcare
Specialist UK provider of home respiratory care services.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
| GBP | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 3 % | 4 % | 6 % | (18 %) | 33 % | 12 % | 7 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 30 % | 28 % | 32 % | 28 % | 17 % | 20 % | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 20 % | 17 % | 20 % | 12 % | 3 % | 7 % | 5 % |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | 72 % | 69 % | 65 % | 40 % | - | - | - |
Source: Company filings or news article
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Baywater Healthcare is a UK-based specialist provider of healthcare services for patients with long-term conditions, focusing on care delivered in the patient's home. The company was established in 2013 through a private equity-backed management buyout of the healthcare division of Air Products plc. The buyout was led by CEO Adam Sullivan and backed by investors Duke Street and Souter Investments.
The firm operates as a key partner to the UK's National Health Service (NHS), providing services under exclusive, long-term contracts for specific regions. Its business model centers on supplying respiratory therapy and support services directly to patients at home. This includes home oxygen therapy, sleep diagnostics, CPAP treatment for sleep apnoea, home ventilation therapy, and nebuliser therapy. The company also offers remote patient monitoring and telehealth solutions. Revenue is generated through these NHS contracts, which are typically awarded for seven-to-ten-year terms.
In January 2018, Baywater Healthcare was acquired by the Bastide Group, a French healthcare organization, in a move that significantly expanded Bastide's presence in the UK respiratory care market. Under Bastide's ownership, Baywater has continued to grow, securing new contracts and expanding its patient base. By June 2025, the company had become the exclusive oxygen therapy operator in six of the eleven NHS regions in Great Britain, serving nearly 60,000 patients. In June 2025, it was announced that Bastide Group agreed to sell Baywater Healthcare to the Italian-based Sapio Group, marking another milestone in the company's expansion and integration into the broader European healthcare market.
Headquartered in Crewe, Cheshire, Baywater employs nearly 500 staff, including a large team of healthcare technicians who provide 24/7 support and delivery services. The company differentiates itself by focusing purely on healthcare services rather than originating from an industrial gas manufacturing background, which allows it to center its operations on patient care and clinical interaction.
Keywords: home healthcare services, respiratory care, oxygen therapy, NHS contractor, sleep apnoea treatment, CPAP therapy, remote patient monitoring, telehealth solutions, home ventilation, nebuliser therapy, long-term condition management, UK healthcare, clinical support services, medical equipment rental, patient care solutions, respiratory diagnostics, palliative care support, chronic condition services, healthcare logistics, public sector healthcare supplier