MML Ireland takes minority stake in Dublin healthcare technology firm Medserv

Dublin-headquartered healthcare administration and technology specialist Medserv has secured a minority investment from Irish private equity firm MML Ireland, in a deal set to drive growth across Ireland, the UK and selected international markets.

According to RTÉ News, the transaction will support Medserv's technology innovation and broaden its service offering for doctors, hospitals and healthcare facilities. Financial terms have not been disclosed.

Founded in 2005 by Cormac Loughrey, Medserv generates over €21 million in annual revenue and employs more than 400 people across Ireland, the UK and Poland. The company provides administrative and technology services designed to reduce operational complexity for healthcare providers.

Loughrey, who will remain as CEO under the new partnership, said the company's priority is to ease the administrative burden on healthcare providers. "With MML's support, we will increase investment in our technology platform, expand our range of services and continue to improve the experience for both providers and their patients," he said. "We see significant opportunity to build on our strong position in Ireland and the UK while continuing to innovate for the healthcare sector."

Neil McGowan, Managing Partner and Co-Head of Investments at MML Ireland, said Medserv had built a strong reputation supporting healthcare providers and facilities. "We are delighted to partner with Cormac and the team as they continue to invest in innovation, enhance their technology capabilities and grow the business in the years ahead."

MML Growth Capital Partners Ireland Limited describes itself as a growth fund dedicated to backing ambitious managers of small and medium-sized private businesses with a significant presence on the island of Ireland. Completion of the transaction remains subject to regulatory approval.

Access the full report to explore the details of this partnership and its implications for Irish private healthcare.