Speechly Bircham advises on the acquisition of Wellbeing Software Group limited by Elysian Capital and management
5 February 2014
This article was written prior to the formation of Charles Russell Speechlys, through the merger between Charles Russell and Speechly Bircham.
Speechly Bircham has advised Elysian Capital on its acquisition, in conjunction with the company's management, of Wellbeing Software Group Limited, a market leading healthcare IT group focused on the provision of software solutions and services to hospitals throughout the UK.
The group is formed of three distinct business units; HSS, Euroking and Apollo, of which HSS is the largest. HSS, based in Mansfield, supplies radiology software (RIS) into secondary care (hospital trusts). Euroking, based in Chertsey, provides similar software functionality as HSS, but very specifically to hospital maternity units rather than radiology departments. Apollo, based in Sunderland, provides a primary care data extraction service.
Senior Debt and Working Capital Facilities were provided by the Acquisition Finance team at Lloyds Bank Commercial Banking.
Edward Brett of Elysian Capital commented "Wellbeing was a complex transaction and Speechlys' deal experience was invaluable. They demonstrated a real ability to think through and deliver practical solutions in a number of challenging areas; and brought a drive and focus that really stood out. We thoroughly enjoyed working with them on this investment opportunity."
The Speechlys core team comprised Malcolm MacDougall, Adam Crossley, Jenna Robinson, Lee Holland and Amelly Kok on the corporate side, and Danny Sullivan and Aziz Abdul on the banking side. Teams from IT/IP, tax, property and employment were also involved. Malcolm MacDougall commented: "We are very pleased to have acted for Elysian Capital on the transaction, which encompassed a complex reorganisation and acquisition as well as equity and senior debt financing. We look forward to working with Elysian and the management team going forward as they expand the business".