Leading North West fund manager River Capital has announced the successful exit of its investment in Carebeans, a pioneering healthcare operations software company. Carebeans has been acquired by RLDatix, the global leader in connected healthcare operations software and services.
Carebeans’ goal has always been to use great technology to help people live their lives with dignity whilst 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 Limited.
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 ca. 60%.
David Walters, the 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 their journey to join the NHS Assured Solutions List with further investment to support additional technology development.
The deep understanding of the medical services sector and hands-on approach to supporting early-stage companies played a crucial role in Carebeans journey, and the support provided allowed them to accelerate product development, expanding their market reach, and ultimately position themselves for this acquisition by RLDatix.