ECI Partners, the UK growth-focused mid-market private equity firm, has sold healthcare IT company CliniSys to Montagu Private Equity.
The exit has yielded ECI a 2.5x return on its investment.
Based in Chertsey, and with offices in Germany, France, Belgium and Spain, CliniSys is a provider of software solutions to clinical laboratories across Europe. The company’s laboratory information systems help customers deliver timely and accurate test results to a wide range of constituents across the healthcare delivery chain. Solutions have been successfully deployed in over 2,000 laboratories with more than 22,000 users in 34 countries.
Technological advances, the emergence of personalised medicine and ageing populations are all boosting demand for clinical laboratory services, in turn driving a need for the efficiencies that CliniSys’ systems can provide. CliniSys is forecasting revenues of over GBP34m for the current year, an increase of over 50 per cent since ECI invested.
Tom Wrenn, the partner who heads ECI’s TMT sector, says: “Under ECI’s ownership CliniSys has increased sales, profits and headcount. The company is now the European market leader in laboratory information systems, and its transformation is all thanks to the hard work of Fiona and her team.
“We wish CliniSys every success in the future as it embarks on its next stage of growth and development with Montagu.
“Today’s sale represents another successful transaction for ECI, and highlights our strong track record in and commitment to building international market leading businesses in the TMT sector.’
CliniSys chief executive Fiona Pearson says: “ECI has been an incredibly supportive partner for us, helping us to nurture sustainable growth and to significantly expand our international business, which now generates over half of our total revenues.
“We have a strong market position in Europe but there are still significant opportunities for us to expand further into new territories, and consolidate our position as a leading provider of laboratory information technology.”
