Investment firm bids farewell to Exco InTouch following US acquisition
Edinburgh and London-based Scottish Equity Partners (SEP) has exited from a second successful investment just weeks after bidding farewell to Skyscanner.
The venture capital firm has exited from Nottingham-based Exco InTouch, which specialises in patient engagement, data capture and digital health solutions for the clinical research and healthcare sector, now that the company, which was also backed by Albion Ventures, has been acquired by US-based data collection solutions specialist ERT.
SEP was the largest shareholder in Exco InTouch, which has experienced significant growth over the last few months.
It says the new, combined organisation will provide the bio-pharmaceutical industry with the most advanced and comprehensive choice for electronic clinical outcome assessments (eCOA), patient engagement and digital health supporting the entire clinical development to commercialisation spectrum – from early phase to late phase; from the simplest to the most complex – and will help clients minimise risks, run safer and more efficient studies, and get new clinical treatments to patients more quickly.
Jan Rutherford, a partner at SEP and non-executive director of Exco InTouch, said: “Exco InTouch has been widely recognised as one of the fastest growing technology companies in the UK, quadrupling its turnover over the last three years and increasing its staff to over 180 skilled personnel.
“SEP has actively supported the company in driving technological innovation for both clinical trial and digital health programs and expanding its partnerships with pharma companies in both the US and Europe.
“The acquisition by ERT is a great strategic fit, opening up further opportunities for progression and we wish the talented team continued success with this exciting next stage of growth.”
Dr. Andrew Elder, lead healthcare partner at Albion Ventures, said: “Albion is pleased to have partnered with an outstanding team at Exco InTouch over the last two years during which the company experienced its most rapid phase of growth.
“Albion’s investment helped Exco InTouch to scale into a truly global health technology company with over one million patients engaged in more than 32,000 hospitals and clinics across 97 countries.
“It has been a pleasure to work alongside SEP in backing the team that has delivered one of the most successful exits to date in the exciting and emerging UK digital health sector.”
James Corrigan, president and CEO at ERT, added: “Exco InTouch has a great history of innovation, and since its inception has made significant contributions to the eClinical landscape. We are delighted to welcome them to the ERT team, and look forward to working together to deliver market-leading offerings that solve our clients’ most complex challenges.”
“ERT is the eCOA industry leader with a strong history in developing novel eClinical products and technologies to minimize risk and uncertainty in clinical research.
“They were an obvious choice when we were assessing our strategic business development options,” said Tim Davis, Founder and CEO, Exco InTouch. “