Cirdan Imaging Limited, a Lisburn, Northern Ireland, UK-based company that firm designs, manufactures and distributes software and imaging solutions for the acceleration and enhancement of medical diagnosis, raised £2.9m in its latest funding round.
The round was led by Kernel Capital, which invested £2m through the Bank of Ireland Kernel Capital Growth Funds, with participation from equity Kainos plc (£0.9m). A further £0.6m investment is in progress to bring the total to £3.5m.
The company intends to use the funds to strengthen its ULTRA LIS product offering, capitalize on the partnership with Kainos and to scale operations, as
they enter new markets and increase export sales.
Established in 2010 and led by Hugh Cormican CEO and Stephen Dunniece CTO, Cirdan Imaging designs, manufactures and provides innovative imaging and informatics technology for the acceleration and enhancement of medical diagnosis. Its products include the Ultra platform, a laboratory information system, and a suite of innovative medical imaging systems.
The company, which has additional offices in Canada and Australia, employs 32 people and has a multi-million pound annual turnover. The growth is also driven by the acquisition, in 2013, of a part of GE Healthcare’s business, which gave it access to a “Blue Chip” global customer base.
As a part of the funding, Cirdan also entered in a commercial partnership with Kainos, which is one of the UK’s leading independent digital technology companies and a market leader in the provision of Mobile-Enabled Healthcare solutions to the NHS.
Existing investors in Cirdan include the Co Fund NI and Qubis.
FinSMEs
04/02/2016