Investment firm HgCapital Trust Plc said on Friday that it has exited from its investment in Intelerad, selling it to GE Healthcare in a deal worth around $2.3bn.
HgCapital said the transaction valued HgT's stake at £52m, delivering a £20m uplift on its carrying value, equivalent to 4.4p per share.
Following the exit, HgT said its pro-forma net asset value stood at £2.5bn, or 553.9p per share, with liquid resources of £402m available to deploy into future opportunities.
The FTSE 250-listed firm, which partnered on the original Intelerad investment with Ardan Equity, stated that during its ownership, Intelerad has increased its revenue by over 3.5 times.
Hg's Katherine Wiles said: "The digital transformation of healthcare is accelerating, driven by intelligent software that connects clinicians, patients, and data. Intelerad has been at the forefront of this shift, enabling faster, more informed clinical decisions through innovation and integration.
"I'm delighted to have supported that mission and I'm excited to see how the combination of Intelerad's imaging software expertise and GE's commitment to innovation continues to drive improved patient outcomes."
Reporting by Iain Gilbert at Sharecast.com