Sharper focus, shared future: Korus Health move to an Employee Ownership Trust 

Over the past 15 years, Korus Health has grown from a small independent provider of ultrasound services into a thriving NHS contractor with more than 70 employees. As one of the first to fully integrate its systems with NHS hospitals, the company has led the way in delivering seamless, patient-focused care. 'We didn’t set out to build a big business; it’s grown organically by doing things properly, with the patient at the centre of what we do' says CEO and co-founder Karl Sturtridge. 

That same people-first ethos runs through the organisation, with a flat management structure and strong internal culture, making the Employee Ownership Trust (EOT) model a natural choice when it came to planning for the future. 

Choosing the EOT model 

Karl began considering his exit options as the business scaled. ‘I was aware that I needed to think about the future,’ he said. ‘But I also didn’t want to pursue a sale that didn’t feel right culturally. An EOT stood out as a model that allowed us to protect our values, reward the team, and ensure continuity.’ 

Previous merger discussions and acquisition offers hadn’t felt right, which made the EOT model even more appealing. ‘I loved that it gave the staff a stake in the business. They all contribute so much - it felt like the right thing to do.’

A smooth and supportive process 

As a subscriber to our Extend plan, Karl and the Korus Health team Karl enjoy instant access to senior lawyers on a predictable fee and came to us for their day today legal needs, such as corporate, property and employment support.  

When Karl decided on an Employee Ownership Trust - a niche area for many firms - turning to Harper James was a no-brainer. As a full-service practice we held the expertise inhouse, saving Korus the time and cost of shopping around.  

Samantha Lenox, Head of Employee Share Schemes, led the process, advising on the tax implications, setting up the Employee Ownership Trust itself, and preparing the full suite of legal documents required for the transition. This included the share purchase agreement and loan agreement, trust deed and operating and governance documentation.  

The team at Harper James were brilliant – personable, incredibly knowledgeable, and made what felt like a daunting process much more manageable. We felt in very safe hands throughout. Everyone we worked with showed the same high level of professionalism and support. 

We’ve worked with lots of professional services companies over the years, and often you meet one standout person, but the experience can drop off when you deal with others. That wasn’t the case here – every solicitor we worked with, across different departments, was professional, consistent and incredibly supportive. It really feels like a joined-up team. The subscription model has worked well for us – we’ve just signed up for another year. 

Senior Employment Solicitor Sean Walsh also supported Korus ahead of the EOT transition, helping to resolve key employment and director-related matters to ensure everything was in place before the sale went ahead. 

Advice for others 

When the EOT was first announced, the initial reaction among staff was surprise – but that quickly turned to enthusiasm as they came to understand the vision behind Korus’ decision. With guidance from Sam on how to communicate the change clearly and advise on post-transition implementation, the Korus team felt informed and engaged throughout; both essential to making the process a success. 

Our employees loved the idea that this was now their company. We created a short video to explain the change and took everyone out for afternoon tea to celebrate. It was a great way to introduce the transition, and I’d encourage others to think carefully about how they communicate with staff during the process; getting that right is key.

He also recommends working with our experts: 

For any business owner considering an EOT, I’d say it’s never too early to start planning. The process really sharpens you as a leader and makes you think more clearly about structure, communication and succession. And working with the right experts makes all the difference - having someone like Sam guide us through it was invaluable.

With Karl staying on in a senior capacity to lead the business forward, Korus is well positioned to continue its vision and growth. Since the EOT they have opened new locations Somerset, Bristol and Birmingham.