ISIS Equity Partners has bought ScriptSwitch, a medicine-prescribing software company, using funds from the Baronsmead venture capital trusts it manages in a £9.9 million ($20.2 million; €14.2 million) replacement capital transaction.
ISIS invested £4.6 million for 32.5 percent of the equity.
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ScriptSwitch provides a medicine management tool to primary care trusts, which is then deployed in doctors' surgeries. If the software was deployed nationally across the NHS, it could save more than £400 million from the state-funded National Health Service's £8 billion annual drug bill, according to ISIS.
The business was established in 2001 by two Warwick University students and a pharmacist.
ISIS was instrumental in appointing Jim Horsburgh as non-executive chairman. He brings experience in the IT healthcare industry following his chairmanship of System C, a provider of patient administration systems to the secondary care market.
He guided System C through to a stock market flotation in 2005.
ISIS Equity Partners invests in small- to medium-sized businesses run by entrepreneurial managers. Its transactions range from £5 million to £75 million with equity investments running from £2 million to £30 million.
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