UK - ISIS Equity reaps 4x money on ScriptSwitch sale

Coventry-based ScriptSwitch was founded by two students and a pharmacist at the University of Warwick in 2001. The company supplies more than six out of 10 of the UK's primary care trusts, which use its software to provide doctors with information about cheaper generic drug alternatives, as well as data on patient safety and dosage levels. The business generates revenues of about £10m and employs 45 people.

ISIS backed the £9.9m buyout of ScriptSwitch in May 2007. The private equity firm invested £4.6m of equity as part of the replacement capital transaction, which represented a partial exit for previous backer Midven and enabled management to realise some value while also rolling over into the newco. Together, ISIS and Midven owned a substantial minority interest in ScriptSwitch, with management holding the balance.

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