Daresbury-based Carebeans sold to healthcare software specialist

Liverpool-based fund manager, River Capital, has completed the successful exit of its investment in Carebeans, a pioneering healthcare  operations software company, reaping a 3x investment return.

Carebeans, which is based in Daresbury, has been acquired by RLDatix, a specialist in connected healthcare operations software and services.

Carebeans has always sought to use technology to help people live their lives with dignity while helping care givers provide consistently high quality support unencumbered by onerous, often disconnected, systems and processes.

The funding from River allowed Carebeans to accelerate its growth in the social care sectors with the opening of a second office and the recruitment of a specialist skilled team.

It also allowed Carebeans to acquire the trade and assets of software business Standex Systems.

River Capital originally invested in Carebeans in December 2021, with the subsequent exit delivering a 3x multiple on invested capital and an Internal Rate of Return of circa 60%.

David Walters, Investment Director at River Capital who led the original investment, said: “Our investment in Carebeans exemplifies River Capital’s commitment to supporting innovative and high potential early-stage businesses with a strong management team.”

In addition to introducing Ashvin Pathak, an experienced chair, to the board of directors, River Capital helped Carebeans on its journey to join the NHS Assured Solutions List with further investment to support additional technology development.