Canadian software firm acquires Mawdsleys health tech business
Mawdsleys Group has sold Positive Solutions, a healthcare technology provider, to Canadian permanent equity firm Valsoft.
The cross-border deal sees the Manchester-based business exit the pharmaceutical distributor after more than 20 years as a non-core division.
Valsoft acquires and develops vertical market software businesses, partnering with management teams to support long-term growth.
William Sanders, international development director at Mawdsleys, said: “Over the past 30 years, it has grown to be a business that is trusted by thousands of healthcare professionals, and with Valsoft’s support it will accelerate its growth while continuing to deliver the high standards of service and innovation.”
Mawdsleys, a sixth-generation family-owned pharmaceutical distributor, supplies nearly a third of all medicines delivered to NHS hospitals.
The company said it recognised an opportunity to attract investment to ensure continued growth and technology innovation for Positive Solutions.
Thomas Keenan, investment partner at Valsoft, added: “The business has built an outstanding reputation within the healthcare technology sector, and we have been impressed by both the team and their vision for the future.”
Trowers & Hamlins acted as legal adviser to Mawdsleys with a team led by corporate partner Paul Ellaby.
Manchester-based corporate finance adviser Bamburgh Capital, led by Alex Clarkson and Brad Logan, worked with directors at Mawdsleys and Positive Solutions over several months to explore strategic options.
Bamburgh provided support throughout the sale process, from the initial strategic options review and buyer identification through to negotiation, due diligence and completion.
Positive Solutions delivers software and services that support pharmacies and healthcare organisations across the UK.
The company will continue to operate as usual for customers and suppliers with no changes to day-to-day operations.
