Foresight Group, a London-based independent infrastructure and private equity investment manager, has injected a £3.5 million investment into IMMJ Systems, a document management solution (EDMS) supplier, with a focus on healthcare.
Founded in 2015, High Wycombe-headquartered IMMJ developed MediViewer, an EDMS that helps healthcare providers by digitalising patient records and providing a single, easy access interface for clinical caregivers.
MediViewer is marketed as a component in the delivery of a paperless NHS. The company says its technology leads to improvements in treatment and more accurate diagnoses at the point of care and reduces costs for NHS trusts, cutting expenditure on administration, storage and reducing paper usage in hospitals.
IMMJ stated that Foresight’s investment will enable it to scale the business through new hires in functions such as operations, technology and account management, to support the expanding deployment of MediViewer. The company also has plans to expand into international markets.
Michael van de Weg, chief executive of IMMJ Systems, said: “We are excited by this investment from Foresight, the opportunity it will provide to grow our offerings and capabilities, enabling us to deploy our products with more healthcare providers. Foresight has an excellent track record in supporting software businesses and is committed to seeing UK growth companies thrive and become leaders in their markets.”
Lindsay Duebendorfer, investment manager at Foresight, added: “IMMJ is an ambitious company that has built a technically advanced but user-friendly product and has a strong reputation among its NHS customers. It’s clear that MediViewer is well-positioned to address key challenges in digitising healthcare.”
Graham Ridgway, chairman of IMMJ Systems, said: “I am very pleased to be supporting the IMMJ team as non-executive chairman. In my previous role as CEO of Wellbeing Software, I led the growth strategy, helping more than triple the value of the business. IMMJ is already demonstrating great traction in the healthcare market and I look forward to working with the management team as they accelerate the company’s growth.”
The advisors to IMMJ Systems for the transaction were: Fladgate (legal advisor) and ScaleUp Group (business advisor). Advisors to Foresight were: Shoosmiths (legal due diligence), Crowe UK (financial due diligence), Catalysis (management due diligence), RPL Advisory (commercial due diligence) and CloudOrigin (technology due diligence).
Date published: January 12, 2021