Ashtons Legal advises on $4m investment into UK tech company
East Anglian law firm Ashtons Legal has assisted UK tech client Medical Management Systems in securing a $4m minority investment in its business from a US-based investor. This new investment will enable London-based Medical Management to accelerate its future growth plans, particularly in the US market. The transaction was led by James Tarling, the partner who leads Ashtons’ Legal niche Tech Team.
Medical Management Systems is the provider of the market-leading Meddbase system, a secure cloud solution for integrated electronic healthcare management. The company has seen substantial growth in recent years, supplying systems to leading healthcare providers around the globe.
Ashtons’ role in the transaction necessitated support from across the firm’s corporate and employment teams and liaison with US advisers appointed by Ashtons. James Tarling comments: “It has been exciting to work closely with Will and the team at Meddbase and to see them develop over time from an entrepreneurial start-up to a substantial professional business on the brink of further growth in the international arena.”
Will Temple, CEO of Medical Management Systems, comments: “In looking for the right partner, we needed an attorney and a law firm that could work with us locally and understood the complexity of setting up an international presence. The team at Ashtons was able to work with us to complete the deal and continues to provide us with advice as we grow globally.”
Ashtons Legal continues to expand its footprint in the international arena, working with many other law firms to deliver a joined-up service for their clients in a range of sectors. Particular expertise includes working for UK-based franchisors expanding internationally and also assisting overseas businesses on the UK aspects of international transactions. Other recent examples of this are Ashtons’ role in advising New York based Palisade Corporation on the UK aspects of a private equity backed transaction and advising the shareholders of US-based engineering company, Slimdril Holdings Inc, on its $12m sale.