Belfast-headquartered homecare provider Connected Health has announced plans to create 1,000 jobs after receiving significant funding from BGF.
The London-based investor initially took a stake in Dougie Adam’s fast-growing healthcare company last summer.
Launched in 2013 with a staff of just 45, Connected Health has grown into Ireland’s largest privately owned homecare provider, employing 1,800 people across the island.
It’s understood the fresh investment in the Belfast and Dublin-based business will largely look to expand its presence in the Republic by hiring an additional 1,000 carers within the next two years.
Connected Health made a significant move into the Republic’s healthcare sector in 2019 after acquiring Dublin-based Home Care Plus.
Chief executive Dougie Adams described the BGF backing as the start of an exciting chapter for the business.
“BGF’s support will allow us to scale rapidly, both in terms of geographical reach and service delivery,” he said.
“We are committed to creating a further 1,000 jobs, expanding our team of carers to meet the growing needs of communities across Ireland.”
Set up in 2011 by a consortium of banks, BGF has emerged as one of most active growth capital investors across Ireland and the UK.
It primarily focuses on addressing funding gaps that often hinder small and medium-sized enterprises (SMEs) from scaling up.
BGF typically invest between £2 million and £15m in return for a minority, non-controlling equity stake.
The list of companies it has backed in the north to date include: Bob & Berts, RiverRidge, Nuada, Bradwater Homes, Decora, AuditComply, Woodland and UForm.
Their involvement in Connected Health comes as the company confirmed a number of new senior leadership appointments.
Former EasyHotel chairman Scott Christie has been appointed as Connected Health’s new chair, with Chris Nixon from BGF also joining the board.
Connected Health has also named Marc Murphy was as its new chief financial officer and Theresa Morrison as chief operating officer.
Mr Adams described the appointments as “invaluable” to the to the company’s future direction.
“They bring a wealth of experience and entrepreneurial drive that will help us grow responsibly while staying true to our mission of providing compassionate, high-quality care,” he said.
“With a robust governance structure and fresh leadership, we are in an exceptional position to lead the transformation of homecare and continue delivering excellent services at scale.”
BGF’s Chris Nixon said: “We see tremendous potential in the homecare sector in Ireland, and Connected Health’s focus on innovation, quality, and scaling its services aligns perfectly with our investment strategy.
“Our support will help the business expand its footprint and capabilities, ensuring more individuals can access outstanding care in their communities.”
