Foresight reaps 4.1x on Mi Healthcare sale to trade

The buyer, a portfolio company of US GP Avista Capital Partners, said the deal will extend its diagnostic imaging equipment sales, rentals, and service capabilities throughout the UK. 

Foresight had invested GBP 3m in Mi Healthcare via its Foresight Regional Investment Fund in 2016, according to a LinkedIn post by Mi Healthcare's CEO and founder Tim Dickinson. 

The GP said the exit returns 4.1x to its maiden GBP 58m North West focused fund. It is the fund's fourth exit, which has now returned total commitments twice over with 13 assets remaining in the portfolio. 

It has grown Mi Healthcare to cover most of the UK from offices in Knowsley, Merseyside, and Cumbernauld as well as enhancing the senior management team, introducing CFO, Mark Edwards, and Chair Matthew Stork. 

Other exits from the North West fund include Clubhouse Golf, Hedges Direct, and DA Languages. 

Earlier this year, Permira sold the UK arm of its diagnostic imaging maintenance group Althea to DWS, as first reported by Unquote's sister publication Mergermarket.  

Advisors
Foresight - Grant Thornton (M&A); Hill Dickinson (legal); Dow Schofield Watts (financial DD).

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