Mills & Reeve advise Sheffield healthtech company on acquisition

Mills & Reeve has advised healthtech company Isopharm on the acquisition by compliance platform, CODE.

Sheffield-based Isopharm is the leading provider of online CPD into the dental market using innovative solutions to meet the mandatory requirements for continuous development. The business also provides software and services for validation and testing to a broad range of healthcare providers. The acquisition creates significant market synergies into the dental sector, whilst initiating CODE’s expansion into adjacent healthcare market verticals.

CODE, which is a portfolio company of London-based August Equity, said the deal will create a market leader in dental compliance.

Andrew Kemp said: “CODE is the perfect platform for the next stage of innovative solutions we had planned at Isopharm; we are delighted to be joining forces”.  

Paul Johnson, partner in the corporate team at the Leeds office of Mills & Reeve and principal associate Vicky Protano advised Isopharm. Paul said: “Technology is radically changing the delivery of healthcare services and Isopharm has led the way in delivering online training. By joining forces, the companies will create a major force to capitalise on the opportunities in this fast-developing market.”

James Bakewell, Director (August Equity and CODE) added: “We are thrilled to have been able to unite CODE and Isopharm to create a highly unique and strategic compliance-focussed business in a market that offers significant opportunity. The combination of software-led compliance solutions and online training to the healthcare market is exciting – a market that’s undergoing a technology-focussed structural shift. We are extremely excited about combining the businesses and working closely with Andrew and the team at Isopharm”.

August Equity raised its 5th fund of £309m in January 2020, enabling the continuation of its strategy to invest in high growth exciting businesses across Healthcare, Technology, Business Services and Education markets. It made its first investment from this fund in Nottingham based, IT Managed Services provider, Air IT in the same month.

Advisors to the deal included Paul Mann, partner at Squire Paton Boggs, 8Advisory (Financial); PwC (Commercial); Paul Mann, partner at Squire Paton Boggs and CMS (Legal).

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