Established in 1995 by Tim Dickinson Med Imaging Healthcare employs 41 people at Knowsley Business Park and turns over around £4.5m a year. Tony McDonough reports.
Private equity group Foresight is investing £3m into a Merseyside firm that supplies and maintains diagnostic imaging equipment in the healthcare sector.
Established in 1995 by Tim Dickinson, a former Siemens healthcare engineer, Med Imaging Healthcare employs 41 people at Knowsley Business Park.
It provides servicing, reactive maintenance, repair and sale of a range of diagnostic imaging equipment for the NHS, private health sector and dental markets and its annual turnover is around £4.5m.
It has grown to become one of the leading independents, working with the majority of NHS trusts throughout the UK.
Foresight’s investment, through its Foresight Regional Investment Fund, facilitates a partial buy-out of the business and provides growth capital to support the growth plans of the business.
As part of the deal, Christopher Langley has been appointed as non-executive chairman. Mr Langley has more than 10 years’ experience in the healthcare industry.
Foresight partner James Livingston said: “Med Imaging represents a compelling opportunity to invest in a well-established business, which maintains vital equipment across many NHS trusts.
“The business is able to offer the NHS compelling cost efficiencies when compared to certain competitors and offers a high level of service.
“it is growing well, both in its core market and across new service lines. We look forward to working with Tim and the broader management team in the coming years.”
The Foresight Regional Investment Fund targets investments in SMEs in the North West of England, North East Wales and South Yorkshire.
Tim Dickinson added: “Foresight’s experience in supporting businesses and developing UK SMEs
will be invaluable to the future growth of the business.”
Med Imaging was advised by Jerry Scriven at MC Vanguard and Kieran Donovan, Catherine Lo and Neil Munford of law firm Bermans.