Bay Tree Private Equity LLP — Press Release, 21 April 2026

Bay Tree Private Equity ("Bay Tree") is pleased to announce that it has completed an investment in Medicare Insourcing Services Limited ("Medicare"), a leading provider of clinical insourcing services to the NHS.

Founded in 2018, Medicare partners with NHS Trusts to deliver additional clinical capacity, helping reduce waiting lists and improve patient outcomes. The business provides high-quality insourcing solutions across diagnostics and outpatient services, deploying experienced clinical teams directly into NHS facilities.

As part of the transaction, Stephen Collier has been appointed as Chair. Stephen brings significant experience of supporting and scaling healthcare services businesses and will work closely with the management team and Bay Tree to support the next phase of growth.

"We are delighted to partner with Bay Tree and to welcome Stephen as Chair. Bay Tree brings a strong track record of supporting service-led businesses, and Stephen's experience will be invaluable as we continue to grow and expand our offering to the NHS."

Scott Littlefield, CEO of Medicare

"Medicare operates in an attractive and growing segment of the UK healthcare market, providing essential additional capacity to the NHS. The business has developed a strong reputation for clinical quality and delivery. We are delighted to be partnering with Scott and his team and look forward to supporting the business in its next phase of growth."

Edward Cottrell, Partner at Bay Tree

"We are very pleased to be backing Medicare and to be partnering with Stephen Collier as Chair. Stephen brings deep sector experience and a strong track record of working with management teams to scale healthcare services businesses in both the public and private sectors. His appointment reflects our ambition for the business and will be instrumental in supporting its continued growth."

Michael Simmonds, Partner at Bay Tree

Debt facilities were provided by OakNorth Bank, with Tom Cox of FRP Advisory acting as debt adviser. Commercial Due Diligence was provided by Henry Elphick and team at Mansfield Advisors. Legal advice to Bay Tree was provided by Stephen Kilshaw of CMS. Financial Due Diligence was provided by Paul Read at HMT. Alastair Robertson of Eclipse Corporate Finance acted as financial adviser to Medicare.