Gresham House Ventures commits to a £4.5mn investment into Orri, a specialist clinic for the treatment of eating disorders (ED).
Currently operating from a single site in London, Orri offers both in-person and virtual services, having developed its online offering during the first COVID-19 lockdown.
Its recovery-focused programmes fill the gap between primary and inpatient services, offering a step-down model to support the transition back to everyday life in recovery. Orri is rated as an ‘outstanding’ treatment provider by the Care Quality Commission (CQC).
Gresham House Ventures’ investment will be used to open a second Orri site – planned for Q1 2023 – as well as to accelerate growth in online services, provide a step-down outpatient service, and build out the business’ head office team.
Orri provides an important service in a growing area where existing NHS services contend with insufficient budgets to meet the rising demand.
Public services remain heavily restricted due to the pandemic, with only 443 specialist ED beds in England and limited day service providers, despite demand growing at 10.7% per annum.1
Orri is differentiated by its specialist focus on ED services, its personalised treatment approach and broad therapy offering. Its management team is led by Kerrie Jones, Chief Executive Officer, who has in-depth knowledge of the complexities of ED after serving clients in the space for over 15 years.
The investment was led by Maya Ward on behalf of both the Baronsmead and Mobeus VCTs, and builds on a busy period of deal-making for Gresham House’s growth equity division.2
Investment Director, Maya Ward comments:
“Eating disorder patients are sadly underserved, with limited provision across the UK and a clear gap between residential in-patient services and infrequent outpatient sessions. Orri offers an effective alternative to clients with its intensive day care model, as evidenced by strong outcomes data and an ‘Outstanding’ Care Quality Commission rating.”
“The investment fits into our healthcare thematic focus, where there is a clear structural imbalance between demand and service provision. We have been impressed by Orri’s clinically-led management team, which has decades of experience in this specialist area, and by providing growth capital, we will not only help expand the business’ reach but also its positive impact.”
Kerrie Jones, Chief Executive Officer at Orri, says:
“Eating disorders are highly complex and can take many years to recover from, yet many services are limited by budget and year-on-year contend with growing demand. Gresham House Ventures’ longstanding experience in the digital healthcare space makes it the ideal partner for Orri, enabling us to extend our specialist support to more people both in person and online over the coming years.”
1. Gresham House Ventures due diligence, July 2022
2. As at 8 September 2022, pre-completion of this investment
