Med Imaging Healthcare has secured £3million investment through the Foresight Regional Investment Fund, which targets small- to medium-sized enterprises in the region.
Med Imaging provides servicing, reactive maintenance, repair and sale of a range of diagnostic imaging equipment for the NHS, private health sector and dental markets. It employs 41 staff from its Knowsley headquarters with a turnover of £4.5m.
Established in 1995 by Tim Dickinson, ex Siemens healthcare engineer, Med Imaging provides servicing, reactive maintenance, repair and sale of a range of diagnostic imaging equipment for the NHS, private health sector and dental markets. It has grown to become one of the leading independents, working with the majority of NHS Trusts throughout the UK.
James Livingston, a partner at Foresight, said: “Med Imaging represents a compelling opportunity to invest in a well-established business, which maintains vital equipment across many NHS trusts.
“The business is able to offer the NHS compelling cost efficiencies when compared to certain competitors and offers a high level of service.
“The business is growing well, both in its core market and across new service lines. We look forward to working with Tim and the broader management team in the coming years.”
As part of the transaction, Christopher Langley has been appointed as non-executive chairman. Langley has previously chaired a number of NHS Foundation Trusts and also took the role of chairman at Hospital Services as part of a Foresight investment last year.
Med Imaging was advised by Jerry Scriven of MC Vanguard, as well as Kieran Donovan, Catherine Lo and Neil Munford of Bermans.
Legal advice was provided to Foresight by Ian Riggs, Jon Gillow and Sean Lightfoot of Hill Dickinson; financial due diligence was provided by Neil Robinson at Mazars; commercial due diligence was completed by Lushani Kodituwakku at Neovian Partners; and Mike Hicks of Catalysis Partners provided management due diligence.
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