Healthcare group acquires NHS-focused business
Carehome Selection Limited, part of the CHS Healthcare group, has acquired health tech business BroadCare for £4.4 million.
BroadCare, which was founded in 2002, is a comprehensive tracking and reporting system specially designed for managing all aspects of NHS-funded continuing healthcare and was part of Mission Marketing Group’s fuse innovation incubator.
Mission Marketing Group describes itself as a technology-embraced marketing communications and advertising group. It developed software innovation BroadCare to automate an otherwise unwieldy process and it has gone on to be widely adopted by Clinical Commissioning Groups (CCGs) and Commissioning Support Units (CSUs) across the country.
However given its specialist nature and the constraints in moving the appeal of the software beyond its current client base, Mission Marketing Group’s board decided that it was better suited to an organisation already providing a wide range of services to the NHS.
In the year ended 31st December 2017, BroadCare, which is run by Nicola Joyce, provided a profit contribution to the group of £500,000.
Mission Marketing Group chairman David Morgan said: “Since creating fuse last year, we have taken a close look at the innovative products within the group to determine how best to maximise value from them.
“We are delighted to see the crystallisation of significant value from our first product and wish Nicola Joyce and her team every success with CHS.”