Leading North West fund manager River Capital has exited its investment in Carebeans, a pioneering healthcare operations software company.
Carebeans has been acquired by RLDatix, the global leader in connected healthcare operations software and services.
Carebeans is a dedicated cloud-based digital care planning and management platform for care homes, supported living, domiciliary care and staff management.
The funding from River allowed Carebeans to accelerate its growth in the social care sectors with the opening of a second office and the recruitment of a specialist skilled team. It also allowed Carebeans to acquire the trade and assets of software business Standex Systems.
River Capital originally invested in Carebeans, which is based at Sci Tech Daresbury, in December 2021, with the subsequent exit delivering a 3x multiple on invested capital and an Internal Rate of Return of 60 per cent.
David Walters, the investment director at River Capital who led the original investment, said: “Our investment in Carebeans exemplifies River Capital’s commitment to supporting innovative and high potential early-stage businesses with a strong management team.”
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.
Liverpool-based River Capital has just opened a base in Manchester at Bruntwood’s BLOC building on Marble Street.
Jeff Surges, CEO of RLDatix, said: “As we strive for better connected healthcare operations in the broader NHS health and care settings, care coordination is critical.
“Carebeans’ software enables RLDatix to provide additional capabilities to the market through integration with our award-winning QCS compliance solutions.”