VCs reap 3x return on Dexela sale
Albion Ventures and the London Technology Fund (LTF) have sold UK-based medical equipment company Dexela to US healthcare firm PerkinElmer Inc. for an undisclosed amount.
Albion led a £1.66m series-A round of funding for the company in 2006, contributing £1.2m of equity. Albion and the LTF then led a syndicate of VC backers that invested over £3m in Dexela between July 2008 and January 2009. Overall, Albion has invested £2.6m in the business since 2006.
Investors in Dexela expect to make up to 3x return on their investment. Under their ownership, Dexela purchased Aviex LLC in 2008, a company that designs and builds high-performance X-ray detectors for scientific applications.
Company
Founded in 2005, Dexela specialises in the commercialisation of tomosynthesis for breast cancer screening and other low dose medical x-ray imaging applications.
People
Andrew Elder led the deal for Albion Ventures. The LTF was represented by David McMeekin.
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