Optima Health (LSE:OPT) reported unaudited revenue of approximately £121 million for the year ended 31 March 2026, representing growth of 15% and meeting market expectations. The company also indicated that adjusted EBITDA is expected to be around 10% ahead of previous forecasts, reflecting continued operational progress during the year.
Despite reporting net debt of £94.4 million, management highlighted the strength of the group’s balance sheet, supported by a recent equity fundraising that enabled the repayment of a £30 million bridging facility used to support acquisition activity.
Transformational PAM Acquisition Expands Market Position
A major milestone during the year was the completion of the £100 million acquisition of PAM Healthcare Limited, one of the largest occupational health and wellbeing providers in the UK and Ireland. The transaction significantly increases Optima Health’s scale and broadens its service offering across occupational health, wellbeing and clinical support services.
Management believes the acquisition strengthens the company’s position within a growing market while providing additional opportunities to enhance service delivery and expand its client base.
Integration Progressing Ahead of Expectations
The integration of PAM Healthcare is continuing in line with management’s plans, with annualised cost synergies of £1.3 million already achieved. The company expects further benefits to emerge as operations are combined and efficiencies are realised across the enlarged group.
Optima Health has reiterated its medium-term objectives of generating £200 million in annual revenue and £40 million in adjusted EBITDA, reflecting confidence in the enlarged business and its future growth prospects.
Focused on Growth and Market Share Expansion
Management remains focused on leveraging the combined capabilities of Optima Health and PAM to increase market share and strengthen its leadership position within occupational health and wellbeing services. The company believes its scale, clinical expertise and technology-led approach provide a strong platform for further expansion.
Market Considerations
The company’s outlook continues to be influenced by weaker cash generation, including negative free cash flow reported in 2025, alongside a relatively demanding valuation with a price-to-earnings ratio of around 50. Financial performance has improved through a return to profitability and manageable leverage levels, although earnings volatility remains a consideration. Technical indicators are mixed, with neutral momentum and the share price trading below longer-term trend averages.
More About Optima Health PLC
Optima Health PLC is a leading provider of occupational health and wellbeing services across the UK and Ireland. The company delivers clinically led and technology-enabled solutions to public and private sector organisations, helping employers improve workforce health, wellbeing and productivity.
The group employs more than 1,600 people, including around 800 clinicians, and operates a nationwide network of more than 50 clinics. Through Optima Health Ireland, the company also provides occupational health services throughout Ireland.
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