Occupational healthcare provider Medmark has acquired Belfast-based Blackwell Associates to enter the Northern Irish market.
The acquisition, for an undisclosed sum, creates one of the largest occupational health groups in the country with a combined revenue for the all-Ireland health group in excess of €20 million.
Medmark works with public and private sector organisations to deliver workplace medical assessments and employee wellbeing services to more than half a million employees.
It is understood the move to acquire the smaller firm was undertaken to gain access to a new market with a view to driving fresh growth for the group.
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Dr Robert Ryan, managing partner at Medmark, described the move as a “landmark moment” for the firm. He said the acquisition of Blackwell has created Ireland’s “largest all-island occupational health service” and will help the group to scale and build capacity for further growth.
Blackwell Associates, founded by Dr Alan Black in 1997, works with more than 70 public and private sector organisations, with the firm stating its clients include some of the largest firms in the region.
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Medmark has experienced strong growth in recent years, recording turnover of €17.1 million, up from €14.1 million in 2023. Pretax profits grew similarly as margins improved significantly, hitting €4.4 million in 2024, more than double the nearly €2.1 million the previous year.
With the acquisition, the occupational health provider now operates from nine locations across the island, after adding Blackwell’s footprint and opening a new clinic in Dublin City Centre.
The occupational health group now has a staff headcount of 160 people, with more than 70 occupational health physicians and nurses, in addition to administrative, wellness and account management staff.
This represents further growth at Medmark, which employed 122 people in 2024 with staff costs of €8.7 million. Directors’ remuneration halved in 2024 from €2.1 million to nearly €1.3 million, but a dividend of €2,920,000 was paid to shareholders.
“We are delighted to be joining Medmark, a provider whose values and clinical standards mirror our own,” said Dr Richard Black, the managing and medical director of the newly acquired Blackwell Associates.
He said the move will give the firm’s clients access to “greater resources, innovation, and expertise”.
“Together, we are well positioned to deliver even more value to employers across Northern Ireland and beyond. We look forward to shaping the next chapter of occupational health as part of Medmark,” he said.
