Clanwilliam Group, the healthcare, technology and services company led by Howard Beggs (pictured), has acquired a majority shareholding in Epic Solutions, a provider of electronic healthcare solutions based in Cork.
Epic Solutions is known for its scalable and integrated web-based care management system epicCare, which is predominantly used in long term care, care of the elderly, sheltered housing, mental health settings and in caring for those with learning disabilities.
epicCare helps its clients achieve regulatory compliance, drives improvements in the quality of care, reduces both fiscal and operational risk and dramatically enhances organisational management capabilities.
Beggs said that Epic Solutions would be supported in its growth through the new investment.
“At Clanwilliam, our focus is on investing in the next generation of eHealth companies which are driving innovation in the industry forward and which, with the right support, have the potential to transform the healthcare landscape for the better,” he said. “
"Epic Solutions is an Irish company with a fantastic growth story and many loyal customers. Clanwilliam’s role is that of an enabler of the work that Epic Solutions is already doing, and we look forward to bringing its offering to even more clients, while exploring the synergies and capabilities made possible by the wider group.”
Existing clients of Epic Solutions will still deal with their established points of contact, and the management team will continue to steer the future direction of the company.
Richard O'Leary (44), CEO of Epic Solutions, commented: “This is a great day for Epic Solutions because it means that we have the backing of Clanwilliam Group, which can help us scale to meet our ambitions to drive further connectivity between GP, pharmacy and long-term care sectors.
“epicCare is a vital tool in managing the care needs of over 20,000 individuals in various healthcare settings and has been embraced by over 16,000 clinicians, support staff and management as a preferred technology.”
Epic Solutions Ltd booked a net profit of €280,000 in 2014. Prior to the Clanwilliam deal, the company had equity invested of €630,000, including €266,000 from taxpayers through Enterprise Ireland. The company’s other shareholders are Richard O’Leary, Christina McDonnell, Paul Kingston and S.C.E. Board South Care Enterprise.
Net worth in December 2014 was €750,000.