Beringea exits APM Healthcare

The deal generated a 3x return for Beringea. Day Lewis will take over APM's 18 UK pharmacies, which it runs in joint venture partnerships with GP Practices.

Beringea first invested in APM in 2011 when it had just one pharmacy. Follow-up investments lifted its total amount invested to £2m, which includes both debt and equity.

Beringea invested using its Proven Growth and Income venture capital trust, and kept a minority stake in the company. The majority of the company was owned by director Andrew Murray.

In the year to April 2016, the company made profit before tax of £228,813 according to publicly available documents.

Company
Founded in 2009, APM is an independent consultancy that works in partnership with GP practices, primary care premises developers and pharmacy owners. It focuses on improving incomes and ensuring the requirements of various regulatory bodies, such as the CQC and GPhC, are met. Its operations are based in the UK.

People
Beringea – Steven Tuckley (chief financial officer).
APM Healthcare – Andrew Murray (managing director).

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• Exits
• UK / Ireland
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• United Kingdom
• Beringea Limited