Hospital Services Limited (“HSL”) has completed the acquisition of Health Net Connections (“HNC”) to expand its market presence in delivering clinical IT solutions to UK healthcare providers.
Founded in 2009, HNC provides healthcare technology solutions to more than 250 hospitals, clinics and practices. The Aldershot-based firm is the exclusive UK distributor of GE Healthcare’s Viewpoint patient care record platform and Trium CTG Online baby monitoring system.
HSL is a fast-growing specialist distributor of diagnostic medical devices, surgical equipment and consumable products to public and private hospitals across Northern Ireland, the Republic of Ireland and Great Britain.
Headquartered in Belfast with offices in Dublin, Meath and Wicklow in Ireland, and Derby and Westbury in Great Britain, HSL scaled rapidly after receiving private equity investment from Foresight Partners in 2015.
Earlier this year, Foresight exited HSL via a sale to NASDAQ Stockholm-listed Asker Healthcare Group.
Asker Healthcare Group CEO Johan Falk commented: “We are pleased to welcome HNC to the Asker family. The team has a proven track record of successful software implementations that help healthcare professionals safely manage patient data, enhance workflow, and save time. With this bolt-on acquisition to the HSL Group, we further strengthen our position in the region and expand our existing offering within ultrasound imaging and reporting software also to the UK market.”
HNC founder and Managing Director Jonathan Raife added: “Beyond the strategic alignment, what truly excites me is the profound cultural fit we discovered with HSL. From our very first conversations, it was clear we shared a common dedication to patient-centric care, a commitment to innovation, and a belief in empowering healthcare professionals.
“This shared ethos ensures that our teams will integrate seamlessly, fostering an environment where our collective passion for transforming healthcare can thrive.”
“Joining forces with HSL creates an incredible synergy, amplifying our reach and accelerating our ability to deliver even greater value to healthcare providers and, ultimately, to patients. Their extensive resources and market leadership, combined with our agile innovation, represent a truly formidable partnership.”
HSL was advised by Grant Thornton (financial) and Mills Selig (legal), and HNC was advised by CapEQ (corporate finance) and HCR Law (legal).
CapEQ Partner Douglas Edmunds said: "This deal isn't just about bringing two complementary businesses together. It's about making sure that high-quality ultrasound technology continues to improve public health across Europe, and we’re proud to have played a part in making that happen.”