Foresight injects £3.5 million into IMMJ Systems to accelerate growth
- £3.5 million investment from Foresight VCT and Foresight 4 VCT
- IMMJ Systems is an innovative, electronic document management solution for the healthcare sector, serving NHS Trusts and private providers
- Funding will accelerate the roll-out of MediViewer, the Company’s market leading product
London, 11 January 2021: Foresight Group LLP (“Foresight”), a leading independent infrastructure and private equity investment manager, is pleased to announce a £3.5 million growth capital investment into IMMJ Systems Limited (“IMMJ” or the “Company”). IMMJ is a rapidly growing electronic document management solution (“EDMS”) supplier, with a focus on healthcare.
Founded in 2015, by a team experienced in enterprise IT and NHS technology distribution, IMMJ developed MediViewer. This leading EDMS addresses a critical challenge for healthcare providers, digitising patient records and providing a single, easy access interface for clinical caregivers. MediViewer is highly intuitive, secure, quick to implement and works seamlessly with other software systems, achieving high user adoption rates and leading to strong traction with its customers.
MediViewer is a key component in the delivery of a paperless NHS. This innovative technology leads to improvements in treatment and more accurate diagnoses at the point of care. IMMJ reduces overall costs for NHS Trusts, cutting expenditure on administration, storage and reducing paper usage in hospitals. Foresight is committed to working towards a smarter future through supporting SMEs with an ability to have a sustainable social impact.
Foresight’s investment will enable IMMJ to scale the business through new hires in key functions such as operations, technology and account management, to support the expanding deployment of MediViewer. The Company is rapidly establishing itself as the EDMS market leader in UK healthcare and has plans to expand into international markets.
Commenting on the investment, Michael van de Weg, CEO of IMMJ Systems, said:
“We are excited by this investment from Foresight, the opportunity it will provide to grow our offerings and capabilities, enabling us to deploy our products with more healthcare providers. Foresight has an excellent track record in supporting software businesses and is committed to seeing UK growth companies thrive and become leaders in their markets.”
Lindsay Duebendorfer, Investment Manager at Foresight, added:
“IMMJ is an ambitious company that has built a technically advanced but user-friendly product and has a strong reputation among its NHS customers. It’s clear that MediViewer is well positioned to address key challenges in digitising healthcare.”
Graham Ridgway, Chairman of IMMJ Systems, added:
“I am very pleased to be supporting the IMMJ team as non-executive Chairman. In my previous role as CEO of Wellbeing Software, I led the growth strategy, helping more than triple the value of the business. IMMJ is already demonstrating great traction in the healthcare market and I look forward to working with the management team as they accelerate the Company’s growth.”
Advisers to IMMJ Systems:
Legal Adviser: Fladgate
Business Adviser: ScaleUp Group
Advisers to Foresight:
Legal DD: Shoosmiths
Financial DD: Crowe UK
Management DD: Catalysis
Commercial DD: RPL Advisory
Technology DD: CloudOrigin
For more information contact:
Citigate (PR to Foresight):
Patricia De Bidegain: [email protected] / +44 (0) 7921 353 825
Will Easton: [email protected] / +44 (0) 7860 753146
Notes to Editors
About Foresight Group LLP (“Foresight”):
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 35 years.
Foresight has c.£6.8 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs), Inheritance Tax Solutions using Business Relief (BR) and Open-Ended Investment Companies (OEICs).
Foresight’s Private Equity Team, comprising over 30 investment professionals, manages over £600 million in a portfolio of more than 100 companies and pursues four discrete but complementary investment styles: Venture, Impact, Growth and Replacement Capital through its growing regional office network.
Foresight was a commended finalist in the Best Venture Capital Trust Provider category at the 2020 Investment Life & Pensions Moneyfacts Awards. Foresight was named ‘Fund Manager of the Year’ at the PLC Awards last year, ‘Generalist VCT of the Year’ at the Investment Week Tax Efficiency Awards 2018/19 and was a finalist in the 2018 Unquote British Private Equity Awards as Venture and Growth Capital House of the Year.
Foresight’s largest office is in London with regional UK offices in Edinburgh, Manchester, Nottingham, Milton Keynes, Leicester, Cambridge and Guernsey and international offices in Sydney, Rome, Madrid, and Luxembourg.
About IMMJ Systems
IMMJ Systems enables the rapid digitisation of clinical content for use at the point of care through its leading product, MediViewer an electronic document management solution built specifically for healthcare providers and designed around the needs of healthcare professionals. IMMJ Systems provides an end-to-end solution that optimises every aspect of the digitisation of clinical content. By providing intuitive, simple, secure access to patient paper records and digitising the process, IMMJ Systems and MediViewer are together delivering significant improvements in patient care quality as well as providing operational and cost-efficiency benefits to customers.