UK mid-market private equity firm Palatine, via its Impact Fund, has acquired a majority shareholding in The MOLE Clinic, a healthcare provider aiming to lower skin cancer mortality rates in the UK through early-stage patient screenings.
The acquisition, for an undisclosed sum, will see Palatine target clinic growth to over 10 in the next three years. It marks the fifth investment from Palatine’s Impact Fund II, following Inclusive Employers, Anthesis, Papilo and Isle Utilities.
The MOLE Clinic was founded in 2003 by Iain Mack and employs over 50 people across four sites. The company offers mapping and screening services that are not available on the NHS.
Mack will remain as CEO of The MOLE Clinic and has invested in the company alongside Palatine.
Palatine’s impact team previously supported the roll-out of Veincentre, a chain of clinics treating varicose veins, which grew from 9 clinics to 22 over the investment period.
Palatine was advised by EY, Gateley, CIL, RSM, Quinn Partnership and Lockton, while The MOLE Clinic was advised by Alvarez & Marsal.
Palatine was founded in 2005 by Partners Gary Tipper, Ed Fazakerley and Tony Dickin, targeting the business services, financial services, health, education and technology sectors and investing from its buyout and impact funds.
