A HISTORIC Scottish research facility has been placed into administration.
The Institute of Occupational Medicine – which is headquartered in Edinburgh but also has regional offices in Staffordshire and Derbyshire – was sold in a pre-pack deal which preserved 90 jobs, according to The Herald.
Johnston Carmichael’s Richard Bathgate and Graeme Bain were appointed joint administrators, with the firm now now sold to Rcapital Partners and implemented through Vine 2023 Limited and IOM Consulting Limited.
The research facility was founded in 1969 before being incorporated as a limited company in 1990 – first focusing on research into lung disease among coal mine workers before then expanding into a wider focus on protecting and improving the health of workers.
“In June 2026, the trustees sought advice from Johnston Carmichael due to increasing cash flow pressure, trading losses and concerns over the company's ability to continue trading solvently. Following a review of the options available, an accelerated sale and investment process was undertaken to preserve value,” the administrators said.
“The sales process included approaches to 54 potentially interested parties and wider exposure through the Mark to Market platform.
“Six parties entered into non-disclosure agreements and, following consideration of the offers received, the proposal funded by Rcapital Partners LLP and implemented through Vine 2023 Limited and IOM Consulting Limited was identified as the deliverable transaction capable of completing within the required timeframe.”
The joint administrators added that “they are satisfied that the administration has achieved the second statutory objective by producing a better result for creditors as a whole than would have been likely in a winding up”.
The statement went on: “The company's employees at the date of administration were transferred to IOMC as part of the sale.
“The transfer ensured continuity of employment for the workforce, with employees transferring on their existing terms and conditions of employment.
“The preservation of employment was a significant factor in maintaining the value of the business, minimising disruption to customers and operations, and enhancing the prospects of achieving a better outcome for creditors than would otherwise have been achieved in an insolvency break-up scenario.”
