Concepto Diagnostics
"Wonderful support, professional service and on time delivery - exactly where you need to go for an EOT transaction."
- Atal Malviya, Director, Concepto Diagnostics
The Business
Concepto Diagnostics is a leading UK healthcare services company. They are a diverse British healthcare brand with a decade of experience in serving the preventative healthcare needs of customers. They are highly innovative and agile in developing new services to meet emerging demand.
They currently have approximately 70 employees and 12 medical clinics in England with plans for significant further growth. The company is led by its in-house UKAS accredited medical laboratory in Watford, UK.
Why Employee Ownership (EO)?
Owners and directors, Atal Malviya and Eileen Flatley were looking to realise some value that had been built up in the business. Recognising that employee ownership can be a powerful incentive for business success, they identified a sale to an employee ownership trust (EOT) as the best succession option.
Adopting this ownership model is intended to create a strong platform for further growth and increased profits, through an inclusive environment involving all stakeholders in the Company.
Atal Malviya, commented: “From the outset, we have maintained a flat, non-hierarchical structure and valued our staff as family members striving for a common goal. With the EOT structure in place, they aren't just going to be involved in the day-to-day operations, but will own the present and the future of Concepto as its owners.”
Eileen Flatley, added: "We always put our staff and customers first. The transfer of ownership means staff have a vested interest in growing and developing our company so we stay on top of our game, delivering the best service we can, to all of our customers."
How Does it Work?
The company is now 51% owned by an EOT and run by three trustees: two employees (one from each of the two main teams within the Company) and one owner (initially Atal Malviya).
The EOT’s role is to ensure that Concepto Diagnostics is successfully run as an employee-owned company, fostering employee engagement and encouraging a leadership style in which employees’ views, ideas and questions are listened to and taken into account in decision making.
