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Zeus Capital raises £4 million for healthcare entrepreneur David Evans

28th March 2013


Zeus Capital, the Manchester and London based corporate finance and broking firm is pleased to announce that it has advised Healthcare Investment Opportunities Plc (“HIO” or the “Company”) on its £4 million fundraising and admission to AIM.

HIO is a newly incorporated investment company focusing on opportunities in the healthcare sector. The board as a whole, and in particular David Evans (Chairman), has an extensive contact base and a proven record of creating value for investors through building businesses in the healthcare sector (via a combination of organic and acquisitive growth). Examples include Axis-Shield plc, BBI Holdings plc, DxS Ltd, EKF Diagnostics Holdings plc, Epistem Holdings plc, Scancell Holdings plc and Sirigen Group Ltd. The rest of the board is made up of Kevin Wilson (Non-Executive Director) and Malcolm Gillies (Non-Executive Director).

The directors believe that there are a number of potentially very attractive investment opportunities within small and medium size unquoted healthcare businesses in the UK which are revenue generating or near revenue generating, have embedded or protected IP, strong management and significant growth opportunities. They anticipate that the first major acquisition will be made within six months of admission. In addition, other smaller acquisitions or investments may be considered although there is no intention to create a portfolio of unconnected companies.

Investment Policy

The Company will be an active investor and will seek to strengthen incumbent management teams, where required, with the necessary skills to deliver shareholder value.

The Company will seek to acquire a business with the following key characteristics:

  • revenue generating or near revenue generating;
  • embedded or protected IP;
  • UK based;
  • capable of significant growth; and
  • a credible management team.

Whilst the Company is focused on the healthcare sector, it is unlikely to invest in businesses whose activities are predominantly in the field of diagnostics, but may invest in businesses which provide services to such companies. The board has identified a number of possible investment opportunities whose activities include:

  • genetics research and biomarker solutions;
  • provider of products and services to life sciences, materials and high technology sectors with embedded IP; and
  • the design, manufacture, validation and supply of real-time polymerase chain reaction reagents.

Dealings in the Company’s shares are due to commence on Friday 5 April

Ross Andrews, Nick Cowles and Jamie Peel provided corporate finance advice. John Goold led the fundraising assisted by Alex Davies and Peter Rowe.

Ross Andrews said:
“Zeus Capital has been a long term supporter of David Evans. David has led a number of successful businesses in the healthcare space, many of which have been advised by Zeus Capital, and I am confident that this will be another success story”.

Zeus Capital acted as nominated adviser and broker to HIO, DWF Manchester provided legal advice to the Company and Kingston Smith were reporting accountants.