A Southport business behind hi-tech solutions for medical simulation, education and training has been acquired by a US counterpart.
Echo Healthcare snapped up Immersive Interactive to expand its healthcare simulation and education offering.
With the acquisition, Immersive Interactive will become part of the global Echo Healthcare organisation while maintaining its offices and continuing to develop and support the Immersive Interactive product line in the United Kingdom and the rest of world.
“The acquisition of Immersive Interactive is an important step in the evolution of our suite of product offerings, allowing increased market access, an enhanced team, and a further defined value proposition,” said Kevin King, CEO of Echo Healthcare.
“We are pleased to add that the joining together of the two companies does not result in the loss of any jobs, and in fact provides more avenues for more opportunities than ever before.”
David Salt and Chris Porter, co-founders and partners, will join Echo Healthcare in senior leadership positions, while the entire team at Immersive will also join the acquiring business.
Porter said: “By joining two amazing companies together we will immediately realise gains in efficiency, access to resources, and roadmap acceleration.”
The deal provides an exit for Immersive’s institutional investor Mercia Asset Management plc. Mercia first backed the company in 2013, using funding from the North West Fund for Venture Capital and later via the Northern Powerhouse Investment Fund.