Fife healthcare IT systems company Newgate Technology has been sold to an English firm after the founder announced his intention to retire.
Bob Watson set-up Newgate Technology in 1988, specialising in software which helps track and trace surgical instruments.
The tech incorporates a wide range of digital clinical management tools which are used extensively across critical departments in acute care.
Mr Watson plans on retiring from his Inverkeithing-headquartered firm and stepped down as director of the company he has run for 36 years at the beginning of August.
The deal, facilitated by Bolton-based KBS Corporate, was finalised earlier this month for an undisclosed sum.
Newgate Technology sold to Athera Healthcare
Newgate Technology will now form part of the Athera Healthcare brand, which traded previously as Halcyon Bidco Ltd.
Athera Healthcare was founded by private investment firm Aliter Capital.
They also are part of Athera Insights, a health data analytics platform and Athera FingerPrint, a traceability and inventory management solution firm.
“We are delighted to join forces with Athera Healthcare,” said Adam Watson, managing director of Newgate Technology.
“Their passion and dedication for continued digital and data-based innovation within healthcare matches our own.
“This partnership marks an exciting new chapter for both of us.”
Athera work with NHS and private hospitals
Athera Healthcare count a number of English NHS boards among their clients, as well as Kings College London and Dublin University dental school.
Aliter established Athera Healthcare with the goal of building an “integrated healthcare technology group that delivers innovative and specialist services to its clients”.
The company has a history of acquiring and integrating smaller businesses to create “sophisticated, professional medium-sized operators” in fragmented markets.
Greig Brown, a founding partner of Aliter Capital, said: “The acquisition of Newgate Technology supports Aliter’s strategy of developing a scaled UK provider of healthcare technology solutions.
“We are excited to work with Athera in the next phase of its development.”
Deal facilitator Will Griffiths, of KBS, added: “Newgate and its staff will prosper under Athera’s ownership and Bob Watson was a pleasure to work with.”
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