A Swansea-based medical software venture has been acquired in a management buyout.
Medical Connections, which was founded by the late Dr David Harvey in 1998 and has 200 clients, has been acquired by its management team led by Philippa Webb (director of operations) Qian Wang (technical director) and Rapten Bhutia (development director).
The deal, the value of which has not been disclosed, was funded by the Development Bank of Wales.
The company is recognised as a global leader in facilitating the development of healthcare IT systems to transfer and make better use of information.
Dr Harvey, a consultant radiologist, set up the business as he was passionate about the development of healthcare IT to deliver better patient care.
Ms Webb said: “As a team, we are very proud to have had the opportunity to have worked with Dr David Harvey and developed such a successful business.
“Securing the right funding package has enabled us to structure a buyout deal that is right for all involved without the need to consider a sale to a global player.
"Importantly, we also have the benefit of the on-going support of the team at the Development Bank of Wales."
Alun Thomas, regional manager for the Development Bank of Wales, said: “Medical Connections is at the cutting edge of medical data transfer and has a global reach from here in Swansea.
“As a well established and respected provider of software for the healthcare sector, the team benefits from a loyal customer portfolio in excess of 200 and is absolutely focused on continued success as a trusted expert and partner in this specialist field of healthcare IT.
We wish them every success.”
