When Amadeus Capital Partners invested in Optos in 1998, it was a small firm with a ground-breaking prototype. The product had global potential, but needed investment. With support from Amadeus, providing finance and expertise, as well as endorsing an innovative “pay per patient” business model, Optos went global, establishing operations in the UK, US, Canada and Germany.
Amadeus saw Optos through a challenging period in 2002, helping the company to recruit a new CEO and investing further funds. In just three years, Optos increased revenues by 68% annually. In 2006, the company floated on the London Stock Exchange, valuing it at £165m. Optos has since expanded into four new European markets: France, Spain, Norway and Switzerland.
The numbers speak for themselves in terms of the growth of the company, the scale of the opportunity, and the quality of the management team.
Anne Glover Chief Executive, Amadeus Capital Partners
What did the business need?
- Development (including FDA approval) of an innovative product
- Addition of experienced senior commercial management
- Networks and access to finance – both equity and equipment leasing
- Creation of a sales and marketing strategy
- Global outlook to realise market potential
How did private equity backing create lasting value?
- Funding of clinical trials and early commercialisation
- Recruitment of senior management with strong commercial credentials
- Introductions to speciality financing sources
- Supporting the launch in the UK and US markets, followed by Canada and Germany
- Shepherding the business through an IPO process, which enhanced the company’s international profile and provided further funding
What outcomes did private equity investment achieve?
- Employment rose from fewer than 20 employees to 232 on flotation
- Revenue rise from zero to $67.7 million at IPO
- Over 30 million Optomap exams performed worldwide as of June 2011