Mon, 18 Nov 2024 | BUSINESS SALE
Essex-based healthcare recruitment agency Athona has put a spring in the step of its staff by becoming employee owned. That means that the company is now majority owned by its around 100 employees via an Employee Ownership Trust.
Brentwood-based Athona, founded in 2003, has, according to the company, established itself as a trusted leader in healthcare recruitment, serving both the NHS and private sectors. It has extensive experience in placing temporary, permanent, and contract staff across the UK and ‘is committed to meeting the unique staffing requirements of its clients while also helping candidates find roles that perfectly match their skills and career aspirations’.
It initially focused on recruiting doctors, but now supports a range of roles such as nurses and Allied Health Professionals on a locum, permanent and contract basis.
Athona said that the move marked a significant milestone in its journey, highlighted its commitment to its employees and ‘enhanced its potential for long-term growth’.
Stewart London, Founder and Chairman of Athona, said: “We are thrilled about the future of Athona as we transition to an Employee Ownership Trust. This step reflects our long-standing commitment to our employees, who have always been at the heart of our success. The move will not only benefit our employees but also strengthen our company culture and preserve the values that have driven our achievements.”
To ensure a smooth transition, the company said it will work closely with its employees, providing education on the EOT model and its long-term benefits, ‘ensuring everyone is well-equipped for this exciting new chapter’.
The company reported a turnover of £60 million in its last results for the year to July 31, 2023. This was up by a fifth on the same period in 2022. Pre-tax profit came in at £1.8 million, up from £1.5 million.
Athona said that it had been helped by demand from the private sector and that it had increased its market share in both its doctors and nurses division.
More generally the NHS is suffering from a staff shortage with, according to The King’s Fund about 111,000 posts currently unfilled.
Find out more about the increasing popularity of employee ownership trusts
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