Investor BGF has sold its stake in Birmingham-based healthcare services provider.
CHS Healthcare specialises in providing outsourced services for the NHS and social care providers from its headquarters in Sutton Coldfield.
It has now been acquired by Acacium Group, a specialised healthcare services partner based in London.
BGF invested £10 million of growth capital into CHS in 2018 which helped the business expand its infrastructure and operations, supporting the provision of services to the NHS and local authorities nationwide.
Read out Budget 2021 Live Blog here today
The investment also enabled the firm to bolster its senior management team and pursue acquisitions. CHS was founded by GP and healthcare entrepreneur Richard Newland in 1995.
While working as a GP, he recognised that families needed more support when choosing a care home so the company was founded to provide free advice to families.
It now offers services such as healthcare assessment support and data management and employs more than 250 people nationwide, contracting with more than 150 NHS hospitals and clinical commissioning groups across the 海角视频.
BGF said that, during its three-year investment period, CHS' revenues grew by 75 per cent to more than £20 million.
Most Read
Mr Newland said: "In a short space of time, we've expanded our services, brought in senior talent and pursued business critical acquisitions.
"We've thoroughly enjoyed working with the team at BGF and are confident the business will continue to flourish in partnership with Acacium Group."
Gurinder Sunner, head of BGF's Midlands team, added: "This is an exciting outcome for CHS Healthcare and BGF.
"We backed the business in 2018 and, over the last two years, the company has surpassed expectations.
"The exit has delivered a strong return for BGF and the other shareholders and set CHS up for further expansion.
"We wish the team all the best on the next stage of the company's growth journey."
The exit was led for BGF by Gurinder Sunner and Chris Nixon, with KPMG Corporate Finance and Gowling WLG also acting on the transaction.