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Cloud- based healthcare monitoring/solution/data store

Reference
S11900
Turnover
£0.5m to £1m
Sector(s)
Engineering, Medical, Technology
Region(s)
UK Wide, Outside UK
Added
22 August 2024

Business description

Established in the 2000s, the company specialises in an array of medical monitoring solutions within sterile services and endoscopy departments within the healthcare sector, using cutting edge cloud-based systems and cloud data storage.

The company offers a range of innovative products and services for sterile services environments, including its cloud-based data logging and visualisation software, medical gas monitoring  system, and sterilizer safety detection system, alongside comprehensive monitoring, support, and data management services.

The versatile data logger monitors various medical equipment such as washers, disinfectors, endoscope washers, laundry washers and sterilizers. The latest variant also performs the most advanced medical gas monitoring  for endoscopy departments in the industry. Complementing this hardware, the company’s proprietary web-based data logging and visualisation software is used for logging and displaying this data.

Revenue is comprised of data management, hardware sales, machine monitoring, environmental monitoring, service contracts, and callouts and support. At present, ~1800 machines are monitored 24/7 across 395 sites.

The company has strong market differentiation, being the only UK company offering indefinite data storage solutions while taking full responsibility for the data. Unlike its competitors, the firm also offers a unified software package that can be seamlessly integrated across multiple hospital groups and all hospital departments, irrespective of the machine manufacturer.

Commanding an estimated 5-7% share of the UK market, the company serves a diverse range of loyal clients across the healthcare space including the NHS, private hospitals, and medical equipment manufacturers.

The firm turned over £948,908 in 2023 with an adjusted EBITDA of £97,875, and has seen year-over-year revenue growth since 2021. 

Highlights

  • Best-in-class proprietary software and technology that would require an estimated £2m+ investment to develop from scratch;
  •  Guaranteed returns year-over-year;         
  • Good customer service record with an impressive system uptime of 99.988% over the past six years;       
  • Strong market opportunity with an expanding private healthcare sector; 
  • Experienced, albeit lean, workforce with management experience;         
  •  A home-run business, keeping overheads low;         
  •  Excellent revenue visibility with all clients committed to a minimum one-year contract;         
  • An attractive bolt-on acquisition for medical equipment manufacturers, particularly those specialising in sterilization and surgical products.

Financials

Turnover (£'000) Adjusted EBITDA (£'000)
2020 (Actual) 790,136 196,677
2021 (Actual) 711,653 85,060
2022 (Actual) 911,015 94,076
2023 (Actual) 948,908 97,875

Opportunities

  • There are many promising growth avenues, e.g. via an expanding private healthcare sector, product improvements, international expansion, and accelerated growth through acquisition by a large medical equipment manufacturer.

Prospective purchasers

  • Prospective purchasers will be required to sign an NDA.

Reason for sale

Looking towards retirement.

Additional information

Data management is a strong and growing market: according to IoT Analytics, global growth in the data management market is expected to be 16% per annum from 2023 to 2030, with the market anticipated to reach $513 billion by the end of 2030.

The firm has developed a unique solution in the market which would require significant capital investment and expertise to develop from scratch.

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