County Down clinical and medical services provider Orthoderm has been bought by a European company for an undisclosed sum.
Founded in 2007 by Michael and Elizabeth Eames, Hillsborough-based Orthoderm works across a range of medical specialities including dermatology, cardiology, plastic surgery, pain management and GP services.
It has been bought by Affidea Group which provides diagnostic imaging, outpatient and cancer care services and said the acquisition will allow it to add new outpatient care services which can complement its portfolio in patient centric care delivery.
Michael and Elizabeth Eames will remain directors following the merger.
鈥淲e are delighted to be joining the Affidea Group,鈥 they said. 鈥淥rthoderm prides itself in providing a high standard of timely and efficient patient care in Northern Ireland across a wide range of medical and surgical specialties.
鈥淥ur team is highly motivated and we look forward to the opportunity to work with Affidea to expand the range of services that we offer to our patients.鈥
Barry Downes, Country Manager Ireland for Affidea, said the move will enable the business to serve our patients, doctors and health systems across Ireland and praised the founders.
鈥淟iz and Michael bring with them a wealth of knowledge and know how in the design and delivery of world class health services,鈥 he said. 鈥淭he addition of Orthoderm will accelerate our capability to become one of the leading healthcare providers in Ireland.鈥
HNH acted as Lead Corporate Finance and Tax Advisor for Orthoderm.
鈥淗NH were delighted to act for the Company on this transaction,鈥 HNH Managing Director Craig Holmes said. 鈥淭his acquisition continues Affidea鈥檚 investment into the NI healthcare market following their previous acquisition of Northern MRI in Belfast, where HNH also acted as Lead Advisor.鈥
鈥淎ttracting further international investment to acquire a NI-based Company, indicates confidence in our local private sector and talent pool. This is a significant development for the local healthcare market.鈥
A&L Goodbody in Belfast, led by Peter Stafford, acted as legal advisors to the Company. Affidea were advised by Flynn O鈥橠riscoll in Dublin.
