Med Imaging Healthcare has received a £3 million investment from the Foresight Group, as part of the Foresight Regional Investment Fund.
The significant investment acts as a partial buy-out of the business and also provides substantial growth capital to support future plans.
As one of the leading independents in the UK, this investment will allow Med Imaging to continue providing NHS trusts with a cost-effective, efficient service.
Christopher Langley has also been appointed Non-Executive Chairman following the transition. Christopher is an experienced CEO and Chairman who has more than ten years’ experience in the healthcare industry.
Tim Dickinson, Managing Director of Med Imaging, commented:
“I am delighted to be working alongside Foresight to further develop our offering and increase our position in the market place. Foresight’s experience in supporting businesses and developing UK SMEs will be invaluable to the future growth of the business.”
James Livingston, Partner, Foresight, commented:
“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.”
Matthew Pomroy, Investment Manager, Foresight, commented:
“Tim has built one of the leading independents in the sector and has demonstrated a significant pipeline of opportunity. This is the third investment from Foresight’s Regional Fund and demonstrates our commitment to the North West.”