Octopus Investments completed an investment in Healthcare and Services Technology Group, which owns Care Monitoring 2000 and Ezitracker, both of which provide remote workforce management services. Joe Hartman led the deal for Octopus and will join the board.
Octopus Investments (‘Octopus’), a fast-growing UK fund management company with leading positions in several specialist sectors including smaller company investing, today announced the completion of an investment in Healthcare and Services Technology Group (‘HST’), owners of Care Monitoring 2000 (‘CM2000’) and Ezitracker, the UK market leaders in the provision of remote workforce management software solutions.
Founded in 1999, CM2000 has become a global supplier of patented, telephony based monitoring, scheduling and management information services to the health and social care sectors. CM2000’s innovative services are unique, monitoring both the time spent with Service Users and patient wellbeing. The company’s services are used extensively by homecare providers throughout the UK and in the United States, helping them to save money, improve quality of service and win new business. CM2000 is based in Sutton Coldfield and has offices in Glasgow and Clearwater, Florida.
The Group acquired Ezitracker in 2013. Ezitracker provides remote workforce management services to homecare providers, facilities management companies and other organisations that employ large numbers of field-based staff. Ezitracker has offices in Cwmbran, Australia and New Zealand.
The investment from Octopus will enable HST to deliver sustained investment in new technologies across both businesses and to develop its markets both at home and overseas.
Grant Paul-Florence, head of the Intermediate Capital team at Octopus, said: “The management team at HST have built world class businesses which have the potential for significant growth not only in the UK but across a number of other markets, including the U.S. A growing ageing population and the need for better cost efficiencies across the care sector mean that the market opportunity is very exciting. Through this investment we are backing a business with the technologies, ambition, opportunity and management team to become the global leader in its field.”
Peter Longman, CEO of HST, said: “The partnership with Octopus means we are able to accelerate growth of the business across markets, strengthening our position as a competitive, global player, in the provision of remote workforce management software. The deal will also ensure we continue to deliver service excellence which is synonymous with both the CM2000 and Ezitracker brands.”
Joe Hartman led the deal for Octopus with support from Clara Hansen and both will join the Board. Octopus was advised by Shoosmiths (legal), Baker Tilly (financial due diligence), CIL (commercial due diligence), Aon (insurance due diligence) and Intuitus (IT and Technical).