Doctors Chambers, which describes itself as the “UK’s largest independently owned providers of independent medical evidence”, is looking for an external investor.
Dr Bippon Vinayak, the group chairman and chief executive, told Legal Futures that the company was looking for a partner “with experience of executing overseas expansion”.
Dr Vinayak went on: “Over the last couple of years, we have been approached by various parties interested in applying our model overseas but the time wasn’t right for us.
“We feel the business is now ready to embark on that journey, having developed its state of the art technology to make the whole process and interaction as seamless as possible.
“We have great ambitions for the business and feel a partner with experience in executing overseas expansion will be ideal for us. I, together with all my senior team, fully intend to drive that process.”
He added that he was not looking for an investor to buy the entire Doctors Chambers group, which he owns with his wife, but a stake in the group, which also comprises: rehabilitation provider Bodycare Clinics; DC Life, which provides medical screening for high net-worth individuals; document signing business Document Plus; and software company Smart Online.
Dr Vinayak, a consultant surgeon, said Cavendish Corporate Finance had been appointed to lead the search. In the year to 31 March 2013, the last period for which there are filed accounts, the company’s sales rose by 17% to £13m. Press reports have valued the group at £100m.
Meanwhile, Dr Vinayak said Doctors Chambers remained committed to being “the best operator” in the domestic market and the Civil Procedure Rules were developing in a way which would support this.
Based in Windsor and Newcastle, Doctors Chambers was established in 1994. It has one of the largest panels of medical experts and provides over 80,000 medical reports a year.
The company is a founder member of the Association of Medical Reporting Organisations.