Private equity and infrastructure investment manager Foresight Group has completed a £4.45m investment into DP Medical Systems, a UK distributor of medical equipment and consumables.
The investment was made via the AIB Foresight SME Impact Fund, Foresight’s fund dedicated to Ireland, which is supported by Allied Irish Banks and the Ireland Strategic Investment Fund.
Healthcare executive Matthew Stork is co-investing alongside Foresight and will join its board as chair.
DP Medical was founded in 1987 in Chessington and currently operates six sites across the UK. It opened its Dublin office in 2019. The company supports customers in the ear, nose and throat, gynaecology and dental sectors.
Foresight’s investment is intended to support DP Medical’s continued expansion in Ireland, increasing its team across the UK, introducing new products, as well as plans to reduce its carbon emissions and improve its sustainability practices.
Foresight’s previous investments in the healthcare sector include healthcare services provider ABL Health and MI Healthcare, a provider of service and maintenance of diagnostic imaging equipment. Current ones include Hospital Services Limited, a distributor of medical supplies, surgical equipment and consumable products; Hexarad, a teleradiology provider; and Homelink, a provider of at-home hospital and virtual ward services.
Foresight was advised by Azets Ireland, PKF Francis Clarke, LK Shields, Tughans, Gateley Law, Confidas, PMSI, Vista Insurance and Mabbett. DP Medical was advised by Meta Corporate Finance and Clarkson Wright & Jakes.
