- Founded by Jonathan Benton in 2015, Inuvi is a diversified health services business providing a broad range of health services including, health assessments, phlebotomy, laboratory testing, and community diagnostic services;
- Inuvi has made several strategic acquisitions over the years, including Express Diagnostics, Medicals Direct and Physiological Measurements;
- The capital from OakNorth as well as its private equity sponsor, Longacre Group, will support Inuvi with future growth and acquisitions.
London, 9th April 2025 – OakNorth – the leading digital bank for entrepreneurs, by entrepreneurs – has provided a £16m financing facility to Inuvi Medical Services (“Inuvi”), a leading provider of end-to-end diagnostic services across the UK.
Founded by Jonathan Benton in 2015 to provide health assessments to the protection insurance market, Inuvi has grown into a diversified health services business, a broad range of health services including, health assessments, phlebotomy, laboratory testing, and community diagnostic services. Inuvi delivers its services to a diverse range of clients across various industry sectors, including NHS and Independent Sector healthcare provision, professional sports, consumer health & wellbeing, primary care, occupational health, employee wellbeing, public health research, clinical trials and life and health insurance.
The company operates one of the UK’s largest independent pathology laboratories in Gloucester, as well as a national network of over 750 healthcare professionals providing mobile and clinic-based diagnostic services. It operates from five UK locations – Wokingham, Gloucester, Plymouth, Oswestry, and London – from which it coordinates nationwide coverage across the UK & Ireland. Inuvi has made several strategic acquisitions over the years, including Express Diagnostics, a leading provider of diagnostic services to the NHS; and Medicals Direct, a provider of medical evidence gathering and rehabilitation services for the UK and Ireland’s protection and annuity insurance markets – both in 2023.
The capital from OakNorth will enable Inuvi to refinance existing bank debt and support future acquisitions, including of Physiological Measurements, the award-winning provider of community non-invasive diagnostic services in partnership with the NHS.
Jonathan Benton, CEO of Inuvi Medical Services, commented: “OakNorth’s deep understanding of our sector and flexible financing approach make them an ideal partner for us. This funding allows Inuvi to accelerate our growth strategy, expand our diagnostics capabilities, and better serve our NHS and corporate clients through the acquisition of Physiological Measurements. We look forward to driving further innovation in healthcare diagnostics with OakNorth’s support.”
Stewart Haworth, Director of Debt Finance at OakNorth Bank, added: “Inuvi is a fantastic example of a fast-growing, innovative business delivering critical healthcare services. Driven by expansion in lab testing capacity and strategic acquisitions, it’s had nine years of uninterrupted revenue and profit growth, enabling it to secure the backing of an excellent sponsor, Longacre, in 2019. With an experienced management team, strong financial performance, and a scalable business model, Inuvi is well-positioned for long-term success. We are delighted to support their expansion and look forward to seeing their continued impact in the healthcare sector.”
This deal marks OakNorth’s second transaction with Inuvi’s private equity sponsor, Longacre Group, following the successful financing of its investment in Veracity UK in December 2024.
ENDS
Notes to editors
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided c.£12.5bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 56,000 jobs, and over 34,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
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