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Apposite Capital makes GBP6m investment in Mirada Medical

Apposite Capital, a private equity firm with an exclusive focus on healthcare, has invested GBP6 million in preferred equity in Mirada Medical, a medical imaging software company.

The investment will support Mirada’s development of artificial intelligence (AI) based software for increasing the speed and accuracy of cancer treatment planning applications, while delivering a more personalised level of care to patients. Apposite has invested alongside Mirada’s founding investor, AlbionVC, and other private investors.
Mirada’s state of the art software algorithms and imaging applications help clinicians to simplify technically complex image processing tasks, thus helping them use medical images more effectively and improve cancer care.
Hugh Bettesworth, Mirada’s CEO, says: “The use of AI in healthcare is growing quickly. We are excited to be able to accelerate our development of AI-based cancer treatment planning. Apposite’s focus on healthcare and their solid pedigree in the Radiation Therapy sector provides Mirada with invaluable resource over and above the significant financial investment they have made. Mirada’s products will make a transformative impact on the day-to-day provision of cancer care, through the deployment of advanced AI-powered technology.”
Sam Gray, Partner, Apposite Capital who is also joining the board of Mirada, said “Apposite are delighted to back the team at Mirada. Not only does Mirada have a long track record of success in medical imaging software with a global installed base of 2,000 hospitals and partnerships with the leading global medical equipment companies, but on the back of world leading science and technology it continues to develop and commercialise its own cutting-edge new products. The recently approved AI-based auto-contouring product is a great example and fulfils a real clinical imperative as clinicians globally strive to deliver ever more precise radiotherapy.”
The investment was led for Apposite Capital by Sam Gray and Lauren Edison.

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