The Surrey-based business, Transform Medical, has been bought by Aurelius, a German investment firm in a pre-pack administration deal after it was revealed the business was restructuring.
The cosmetic surgery group provides consultations and small treatments throughout the UK.
Upon appointment, the administrators Turpin Baker Armstrong sold the business and its assets of Transform Medical Group (CS) Ltd to TFHC Ltd, a company connected to Aurelius Investments.
A Transform spokesperson said, “We can confirm that as of the 1st July the ownership of Transform transferred to Aurelius Group. This change of ownership will result in a financial restructuring of the business”.
“Transform remains committed to its patients and these changes will see the new legal entity TFHC Ltd, which trades as Transform, honour all existing aftercare commitments, extended warranties and ensure deposit protection.
“Transform will continue to deliver its market leading surgical and non-surgical cosmetic procedures to patients across the UK.”
With more than 355 employees, the Transform expressed there would be no redundancies nor would any clinics be closing.
Pre-pack administration can often be the best solution as it can save jobs while ensuring the business can continue running. Very much so in this case!