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Foresight returns 4.1x from sale of Mi Healthcare to Probo Medical

Foresight Group (Foresight), a specialist regional private equity and infrastructure investment manager, has sold Mi Healthcare to Probo Medical (Probo), part of Avista Capital Partners.

Mi Healthcare is a provider of service and maintenance of diagnostic imaging equipment for both NHS and private hospitals. Mi Healthcare will return 4.1x to Foresight’s maiden £58 million North West focused fund. This is the Fund’s fourth exit which has returned total fund commitments twice over and c£110 million, with thirteen assets remaining in the portfolio.  

Since Foresight made its original investment in 2016, Mi Healthcare has expanded its service offering and geographical reach. It now covers most of the UK from offices in Knowsley, Merseyside and Cumbernauld, Scotland. Foresight enhanced the senior management team, introducing CFO, Mark Edwards and Chair Matthew Stork. Stork joined from GE Healthcare and InHealth, bringing a wealth of relevant experience. Edwards was later promoted to CEO and will continue with the Company. Foresight also supported Mi Healthcare through a re-brand alongside improving the sales and marketing approach. 

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