Cirdan, a Lisburn company which is committed to addressing some of the world’s most pressing healthcare challenges, has secured £7.5 million in investment.
The combined funding comes from the Investment Fund for Northern Ireland (IFNI) and global investment management company 57 Stars.
Cirdan plans to use the £5m of funding from 57 Stars and £2.5m from IFNI to accelerate its delivery capabilities, expand its team of specialists and enhance its ability to provide innovative products. The scaling company is a leading provider of innovative software and imaging solutions that enhance and expedite the diagnosis of diseases.
Cirdan’s suite of products help healthcare professionals across the globe deliver more accurate and timely diagnoses, improving patient outcomes and healthcare efficiency.
Its flagship product, ULTRA LIS, is a Laboratory Information System (LIS) designed to scale from small, single-site labs to large, multi-site, multi-disciplinary laboratories. It streamlines operations and improves efficiency across a wide range of clinical settings.
Cirdan’s solutions are already deployed in over 200 clinical laboratories and hospitals across 20 countries and six continents.
The new funding will enable further global expansion, complementing its existing presence in Northern Ireland, the US and Australia.
“The backing of 57 Stars and the Investment Fund for Northern Ireland is a testament to the value and potential of our technology,” said CEO Hugh Cormican.
“With their support, we are confident in our ability to scale our solutions globally and make a significant impact in the healthcare sector, ultimately improving patient care and outcomes.”
The deal with the Investment Fund for Northern Ireland was led by Clarendon Fund Managers who manage the equity arm of the £70m fund.
Clarendon Fund Managers Investment Director Neil Simms said: “Cirdan is a shining example of the innovation and expertise that Northern Ireland has to offer.
“We are proud to support their continued expansion, which will not only strengthen the local economy but also improve healthcare systems worldwide.”
Managing Director of 57 Stars Bernard McGuire said: “Cirdan’s innovative technology is transforming the way critical diagnostic procedures are performed, and we are excited to support their journey toward becoming a global leader in pathology diagnostics and informatics.
“This partnership aligns with our strategy of investing in companies that harness technology to solve complex challenges in high-growth sectors.”