CapEQ advises shareholders of healthcare IT business MidexPRO on sale to Software Circle plc
CapEQ has advised the shareholders of MidexPRO, a Swindon-based healthcare IT business, on the sale of the company to Software Circle plc, the Manchester-headquartered acquirer and operator of vertical market software businesses.
The transaction completed in October 2026 and gives MidexPRO a long-term home within a group that retains the businesses it buys and runs them with operational independence.
Founded in 1994, MidexPRO develops award-winning, cloud-based practice management software for independent healthcare. Private consultants, GPs, clinics, hospitals, and medico-legal practitioners use the platform to manage patient records, clinical correspondence and dictation, billing, and accounts in a single system. The business employs 10 people and is led by Managing Director Gary Parker, who joined in 2007 and has led the company alongside Caroline Corrigan Parker since 2014.
James Pugh, Partner at CapEQ, led the engagement for the MidexPRO shareholders. Rebecca Leask, Joint Head of Healthcare and partner at HCR Law in Birmingham, provided sell-side legal advice.
Transaction commentary
Software Circle CEO Gavin Cockerill said: “Midexpro becomes our twelfth vertical market software business and exactly the kind of niche, founder-built business we want to own. MidexPro joins our health and social care sector, and adds private clinical practice software to what we already do well there.”
MidexPRO Managing Director Gary Parker said: “Caroline and I have spent more than a decade building MidexPro with a brilliant team and some very loyal customers. We wanted a home for the business that would look after both, and Software Circle’s long-term, decentralised approach to ownership was the right fit.
“James and the CapEQ team understood what mattered to us from the first conversation and gave us clarity at every stage of the process.”
CapEQ Partner James Pugh commented: “MidexPRO has spent more than three decades building software that private practitioners rely on every day to run their practices. The shareholders wanted a buyer that would recognise the value of that platform and look after the team and customers who depend on it. Software Circle’s model of permanent ownership and operational independence met both tests, and we are thrilled to have guided the shareholders to a successful outcome.”
Strategic rationale
Software Circle acquires founder-led, profitable software companies in the UK and Ireland with high levels of recurring revenue — income that repeats each year through subscriptions and support contracts. It retains each business permanently and reinvests the cash they generate into further acquisitions. Its portfolio spans five segments, including Health and Social Care, where it already owns care management software provider CareDocs.
MidexPRO brings Software Circle a specialist platform in independent healthcare, used across specialties from anaesthesiology and ENT to paediatrics and psychiatry. The software integrates with established sector services including Healthcode, Xero, The Doctors Laboratory, Doctify, and CloudRx. MidexPRO will sit within Software Circle’s Health and Social Care segment.
About MidexPRO
Founded in 1993, MidexPRO is a Swindon-based healthcare IT business that develops award-winning, cloud-based practice management software for independent healthcare. Private consultants, GPs, clinics, hospitals, and medico-legal practitioners use the platform to run patient records, clinical correspondence and dictation, billing, and accounts in one system. It works across specialties from anaesthesiology and ENT to paediatrics and psychiatry, and integrates with Healthcode, Xero, The Doctors Laboratory, Doctify, and CloudRx, among others.
For more information, visit www.midexpro.com
About Software Circle plc
Software Circle plc (AIM: SFT) is a Manchester-headquartered acquirer and operator of business-to-business vertical market software businesses: specialist software companies whose platforms sit inside the day-to-day workflows of a single industry.
Software Circle plc acquires founder-led, profitable software companies in the UK and Ireland with high recurring revenue, retains each business permanently, runs it with operational independence, and reinvests the cash it generates into further acquisitions.
The group has 12 operating units and c.190 employees across five segments: Graphics and Ecommerce, Professional and Financial Services, Health and Social Care, Property, and Education. For the year to 31 March 2026, revenue rose 22% to £22.3m, with recurring revenue of £16.8m (76% of group revenue).
For more information, visit www.softwarecircle.com
About CapEQ
CapEQ (Cap Equity Advisors Ltd) is a UK M&A advisory boutique for founder-led, independent businesses, advising on sell-side mandates, capital raises, and acquisitions, with a focus on transactions below £100m. Every engagement is partner-led: the partners who win the work also do the work, and the partner team has completed more than 100 transactions.
Founded in 2020 and based in Theale, near Reading, CapEQ became Europe’s first certified B Corp M&A boutique in 2021 — independently verified against standards of social and environmental performance, accountability, and transparency.
