finnCap Cavendish advises on the sale of MBI Healthcare Technologies to DNV
pharmafile | January 13, 2023 | News story | Business Services |
London, 9th January – finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised the three Founders of MBI Healthcare Technologies (“MBI”), John Bull, Emilios Evangeli and Barry Mulholland, on the acquisition of the firm by global quality assurance and risk management provider DNV.
MBI Healthcare Technologies supplies healthcare providers with artificial intelligence-backed technology and data quality expertise to reduce patient safety risks, deliver care more efficiently and bring down waiting times for elective treatment. The company tackles the growing challenge of patient data being imprecisely recorded in electronic health record systems.
MBI Healthcare Technologies has worked with more than 80 healthcare providers in the UK to improve elective care performance over the past decade. Its LUNA software platform has been used to manage more than 40 million patient pathways, and the company has assessed more than 10 million clinical documents.
The acquisition forms part of DNV’s strategic expansion into the digital health market, where it aims to significantly grow its presence through innovation, acquisitions, and partnerships. DNV and MBI will work to rapidly scale the MBI’s solutions in the UK, target growth in international markets, and bring new data assurance technologies to the healthcare sector. MBI Healthcare Technologies’ management will continue to lead the company’s growth, supported by an international team of commercial and domain experts from DNV.
The deal was led by Karri Vuori, Partner, and executed by Harry Radburn, Associate, at finnCap Cavendish.
Barry Mulholland, Founding Partner at MBI, commented:
“We are absolutely delighted with the outcome of this deal and are excited to be joining DNV. This strategic decision will enable us to further accelerate our long-term growth objectives and showcase our unique LUNA technology. Karri and Harry have achieved an outstanding result for us through their wealth of sector expertise and highly commercial advice and it has been a joy working with them.”
Remi Eriksen, Group President and CEO of DNV at DNV, commented:
“DNV’s investment in MBI Healthcare Technologies aims to accelerate data quality improvements in the healthcare sector. MBI Healthcare Technologies has developed sector-leading services and with their artificial intelligence-powered solution we will make a significant impact on the digital transformation of the healthcare system. With this investment we will further enhance DNV’s strength in providing trust and assurance to the healthcare sector.”
Karri Vuori, Partner at finnCap Cavendish, commented:
“This transaction is particularly close to my heart given the genuine impact MBI and its founders have on the quality of healthcare and ultimately human lives. It also marks the second time I’ve advised one of the founders on a notable healthcare technology exit. DNV is a fantastic partner for MBI allowing them to rapidly scale their groundbreaking technology and with a shared culture of impact.”
