Radar Healthcare Acquired in Major Deal with Marlin Equity Partners
Deal News | Dec 03, 2024 | Mercia Fund Management (Mercia Ventures)
Radar Healthcare, a Leeds-based provider of risk, quality, and compliance software for the health and social care sectors, has been acquired by global investment firm Marlin Equity Partners. This acquisition provided an exit for Mercia Ventures and the Northern Powerhouse Investment Fund, which had supported Radar Healthcare since 2017. The deal produced a return of 4.1 for Mercia Ventures and enabled Radar Healthcare to access fresh investment to accelerate product development and expand internationally. Co-investor 24Haymarket and the company's founders, Paul Johnson and Lee Williams, will retain minority stakes in the company. Both Mercia and Marlin are optimistic about Radar Healthcare's future growth.
Sectors
- Healthtech
- Private Equity and Venture Capital
- Software
Geography
- United Kingdom – Radar Healthcare is a Leeds-based company, and Mercia Ventures, part of the Northern Powerhouse Investment Fund, is also based in the UK.
- Global – Marlin Equity Partners, as the acquiring firm, is a global investment entity indicating its operation on an international scale.
Industry
- Healthtech – Radar Healthcare operates in the healthtech industry, providing software solutions for risk and quality management in healthcare sectors.
- Private Equity and Venture Capital – The article involves Mercia Ventures, a private equity firm and investment fund, in its deal with Marlin Equity Partners.
- Software – Radar Healthcare's main product offerings are in the realm of software services, designed for healthcare compliance and risk management.
Financials
- 7.5m – The sale of Radar Healthcare provided a return of 7.5 million to Mercia Ventures, representing a 4.1x return on investment.
- 4.1x – The multiple of Mercia Ventures' return on their investment in Radar Healthcare, indicating a profitable exit.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Radar Healthcare | Target Company | Company | A healthtech company providing risk, quality, and compliance software to healthcare sectors. |
| Mercia Fund Management (Mercia Ventures) | Selling Company | Private Equity Firm | A backer of Radar Healthcare since 2017, involved in the exit deal with Marlin Equity Partners. |
| Marlin Equity Partners | Bidding Company | Investment Firm | A global investment firm that acquired Radar Healthcare. |
| Northern Powerhouse Investment Fund (NPIF) | Investor | Investment Fund | Fund that provided financial backing through Mercia Ventures to Radar Healthcare. |
| 24Haymarket | Co-Investor | Investment Firm | Co-investor with Mercia Ventures in Radar Healthcare, retaining a minority stake post-acquisition. |
| Paul Johnson | CEO of Radar Healthcare | Person | CEO and one of the founders of Radar Healthcare; he retains a minority stake post-acquisition. |
| Lee Williams | Co-Founder | Person | Co-founder of Radar Healthcare, retaining a minority stake after the acquisition. |
| Graham Davies | Partner at Mercia Ventures | Person | Partner at Mercia Ventures who reflects on the successful exit of Radar Healthcare. |
| Chris Clasper | Principal at Marlin Equity Partners | Person | Principal at Marlin Equity Partners, commenting on the strategic partnership with Radar Healthcare. |