Foresight Group (“Foresight”), a leading regional private equity and infrastructure investment manager, has announced a £6 million investment alongside £1.5 million from Clydesdale Bank into Clearview Endoscopy Limited (“Clearview” or the “Company”), a business that services, repairs and maintains flexible endoscopes used in medical diagnostics in healthcare settings.
Clearview offers a leading service to customers across the UK and Ireland. The Company works with NHS trusts and private clinics to proactively limit endoscopy down times through fast and reliable repairs combined with a broad endoscope temporary lending offering. As the number of endoscopies increases year on year with the growing clinical focus on minimally invasive procedures and early diagnosis of diseases like bowel cancer, Clearview’s services help to reduce waiting lists in NHS trusts, allowing clinicians to detect and treat issues as early as possible.
Foresight’s investment will enable founder, Dave Cameron, to step away from the Company in a staged way and for a new management team to participate in the equity growth story; a process which will combine organic growth with select M&A opportunities.
The investment will also enable the Company to expand its service offering while creating high quality jobs across the East of England. Foresight has a strong track record of supporting growth companies in the medical services sector. Notable examples include HomeLink Healthcare, IMMJ Systems, Hexarad, Hospital Services Limited and the recently exited Mi Healthcare which achieved a return of 4.1x invested capital.
PMSI provided CDD to support the transaction, and addressed key investment themes including cross-sell opportunities into the wider medical device market and the impact of COVID-19 on repair volumes, as well as an analysis of Clearview’s competitive positioning against other third party service providers and OEMs.
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