Two trade sales of Irish healthcare and medtech companies have delivered €5m in return to investors.
Sales of Swiftqueue and Oncomark have delivered €5m in returns to Bank of Ireland Seed and Early Stage Equity Fund.
Cork-based venture capital firm Kernel Capital has confirmed that Dedalus Group, a leading international healthcare software solutions provider, has acquired Kildare-based Swiftqueue Technologies Limited. Swiftqueue specialises in hospital appointment and queue management.
In addition Kernel Capital confirmed that in recent weeks its portfolio company Oncomark, which is developing a prognostic test for breast cancer, has been acquired by an undisclosed international buyer.
“The initial €650,000 investment in Swiftqueue and in Oncomark, made when they were very early stage companies, demonstrates the power that ‘pre-seed and seed’ funding has in being a catalyst for significant foreign direct investment into Ireland”
Both Swiftqueue and OncoMark as early stage companies received €650,000 investment from The Bank of Ireland Seed and Early Stage Equity Fund managed by Kernel Capital.
Promise of Irish early stage ventures
The two trade sales deliver €5m in returns to this Fund, which is supported by Bank of Ireland, Enterprise Ireland, the University of Limerick Foundation and the Galway University Foundation.
“The initial €650,000 investment in Swiftqueue and in Oncomark, made when they were very early stage companies, demonstrates the power that ‘pre-seed and seed’ funding has in being a catalyst for significant foreign direct investment into Ireland,” Kernel Capital said.
“Both Swiftqueue and Oncomark have been acquired by global players who are now funding their scaling plans.”
Pictured: Dawn Walsh, Kernel Capital & Brendan Casey, CEO, Swiftqueue
