Pre-tax profits at Ennis headquartered healthcare recruitment firm, TTM Healthcare increased by 8pc to €7.2m in 2021.
The business is led by former Irish boxing international, Brian Crowley and the business continued to grow in 2021 as revenues increased by 18pc rising from €81.75m to €96.63m.
Mr Crowley is also a former EY Entrepreneur of the Year finalist and the business has offices in Mr Crowley’s hometown of Ennis and in Dublin, Cork and Manchester.
The directors state that “the excellent momentum achieved in 2021 has continued particularly strongly into 2022 as we experience continued significant demand across all of our service areas”.
Paying tribute to “the amazing efforts of all our talent” the directors anticipate “revenue and earnings growth to continue throughout 2022”.
The Group manages, supplies, and delivers “innovative health and social care solutions” to the public, private and not-for-profit sectors in the Republic of Ireland, Northern Ireland, mainland UK and the Middle East.
Numbers employed by the business rose from 1,844 to 3,080 in 2021 and staff costs rose by 14pc from €66.95m to €76.2m.
The firm’s operating profits more than doubled rising from €4.2m to €9.7m.
However, operating profits were reduced by net ‘other operating expenses’ of €2.25m and interest payable of €242,002.
The operating profit also takes account of combined non-cash depreciation and amortisation costs of €1.05m.
The business recorded post tax profits of €6.16m after paying corporation tax of €1.06m,
Directors’ pay more than doubled from €200,000 to €439,690 made up of pay of €184,690 and pension contributions of €255,000.
The directors state that TTM Healthcare Solutions are specialists in healthcare talent management and healthcare process outsourcing.
They state: “We send over 3,000 healthcare professionals to work in flexible frontline and support service roles every week and place 3,500 permanent roles annually.”
At the end of December 2021, the group’s shareholder funds totalled €22.3m while its cash funds increased from €10m to €18.14m.
The directors further state that the business’s Health and Social Care business experienced 25pc increase in Turnover from €21,337,251 to €26,699,957 in 2021.
They state: “This strong growth was supported by significant investment in property, IT infrastructure and people that delivers a high-quality person-centred service while achieving value for money for all our customers.”
The directors state that the Group continues to look for organic and external growth opportunities.
Last year, TTM Healthcare acquired two firms – in June, it acquired Be Rota Limited, which develops and supplies workforce technology with predominant functionality of scheduling and timesheet management and in July acquired 70pc of MMA Healthcare Recruitment UK Ltd which provides global healthcare talent and recruitment services.
