Mobeus invests £3.5m in Bourn

The firm made its initial investment in exchange for a minority stake and with the commitment that significant follow-on funding will be provided at a later date.

The deal was sourced via PEM Corporate Finance, which introduced Mobeus to the investment opportunity and advised on the deal.

Bourn plans on using the funding support to expand geographically.

Company
Headquartered in Cambridge, Bourn was founded in 1980 with the establishment of the world's first IVF clinic. The company now operates two additional clinics located in Colchester and Norwich.

Bourn also operates several satellite units in National Health Service hospitals, as well as an independent satellite unit in Wickford.

The company provides IVF and fertility treatments, claiming to deliver more than 2,500 IVF cycles each year.

Bourn currently employs 120 staff and is believed to have generated turnover of £9.9m in 2012, as well as an operating profit of £355,700.

People
Mike Macnamee is the CEO of Bourn. Greg Blin is an investment manager at Mobeus.

Advisers
Equity – PEM Corporate Finance (Corporate finance); Mansfield Advisors (Commercial due diligence).

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• Topics
• Expansion
• UK / Ireland
• Healthcare
• United Kingdom
• Mobeus Equity Partners