14 June 2021
We have advised N+1 Singer as Nomad and Broker on a £25 million share placing for Induction Healthcare Group plc.
Induction is a leading virtual care platform driving digital transformation of healthcare systems worldwide, and it has now acquired Australian-based Attend Anywhere Pty Ltd, a UK market leader in video consultation in secondary care with a strong NHS footprint.
Part of the proceeds of the placing have been used to fund the cash consideration in respect of the acquisition and the remainder will be used to provide Induction with additional working capital.
Commenting on the transaction, Partner Ross McNaughton, said: "We are delighted to have supported N+1 Singer on another successful fundraise. Induction Healthcare is an extremely interesting healthcare company, and we wish them well on the next stage of their journey following this successful fundraise. As a leading firm in the life sciences and healthcare sector, we help advise companies, investors and banks on many of the most strategically important deals in that space."
Phil Davies, Director, N+1 Singer added: “We are delighted with the strong support shown by the investor base that we were able to attract for the Company. We are grateful to Taylor Wessing, who provided outstanding commercial advice throughout."
The team was led by Corporate Partner Ross McNaughton, with support from Senior Associates Joe Cooper and Alice Thomas, and Associate Katie Fry-Paul.
by Ross McNaughton and Oli Denne