Liverpool SME investor River Capital exits Daresbury-based healthcare operations software company with three times the return on its investment. Tony McDonough reports

The Innovation Centre at Sci-Tech Daresbury

SME investor River Capital has completed the successful exit from healthcare operations software company Carebeans with a healthy return.

Liverpool-based River Capital received three times its investment in Carebeans after the Sci-Tech Daresbury business was acquired by global healthcare operations software company RLDatix.

Carebeans’ goal is to use “great technology to help people live their lives with dignity” while helping caregivers provide consistently high-quality support unencumbered by onerous, often disconnected, systems and processes.

Thanks to funding from River Capital, Carebeans accelerated its growth in the social care sectors with the opening of a second office and the recruitment of a specialist skilled team. It was also able to acquire the trade and assets of software business Standex Systems.

River Capital originally invested in Carebeans in December 2021, with the subsequent exit delivering a 3x multiple on invested capital and an internal rate of return of around 60%.

David Walters, the investment director at River Capital who led the original deal, said: “Our investment in Carebeans exemplifies River Capital’s commitment to supporting innovative and high potential early-stage businesses with a strong management team.”

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In addition to introducing Ashvin Pathak, an experienced chair, to the board of directors, River Capital helped Carebeans on their journey to join the NHS Assured Solutions List with further investment to support additional technology development.

A deep understanding of the medical services sector and hands-on approach to supporting early-stage companies played a crucial role in Carebeans journey.

Support from River Capital allowed it to accelerate product development, expanding our market reach, and ultimately position themselves for this acquisition by RLDatix.