BGF invests £6 million into Signify Research

Steve Holloway

Published: October 14, 2024 Our News

Cranfield, UK, 14th October 2024 – BGF, the UK and Ireland’s most active growth capital investor, has completed a £6 million investment into Signify Research, a specialist HealthTech market intelligence provider.

The multi-million investment aims to accelerate Signify Research’s growth and expand its market presence as a trusted supplier of high-quality research, consultancy and market intelligence to the global healthcare technology industry.

Signify Research’s in-house research team provide unrivalled subject matter expertise and data-driven insights across its key coverage areas of Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences, Healthcare IT and AI in Healthcare, which business leaders use to guide strategic decision making.

Following BGF’s investment, Signify Research will continue to focus on providing reliable and insightful services to its customers, while at the same time increasing the breadth of its coverage areas and the depth of research provided.

The business will continue to be led by an experienced management team, including co-founders Steve Holloway (CEO) and Alex Green (COO).

Alongside the investment, Signify Research’s leadership team has also been bolstered with the appointment of Gareth Miller as non-executive Chair, following an introduction from BGF’s Talent Network.

Gareth was previously the CEO of BGF-backed Cornwall Insight, a leading provider of research, data and analysis to the energy sector, which was acquired by Bowmark Capital in 2022. Having successfully scaled Cornwall Insight through to exit and with a wealth of experience in driving long-term, sustainable growth in B2B services, Gareth will be supporting the Signify Research leadership team in executing the company’s ambitious growth strategy.

The deal was led by Mark Nunny and Elena Kovalikhina, investors in BGF’s Central & East team.

BGF’s investment in Signify Research is part of its ongoing commitment to supporting high-potential businesses across the UK and Ireland. With a portfolio of over 400 companies, BGF has a proven track record of helping businesses achieve their growth ambitions.

Advisors to the deal include:

Grant Thornton (Mike Tillson, Nigel Le Bas, Andre Lamego and Zach Rose) – corporate finance
Wilson Partners (Dan James) – financial diligence
Howes & Percival (Gareth John, Matthew Thompson, Helaina Mann) – lawyers acting for BGF
Shoosmiths (Aleks Bosch, Jordan Telford) – lawyers acting for Signify
Claritas (Katie Edwards) – tax advice
SBR (Alan Morton, Juliet Hall, Thomas Coles) – sales diligence
CIL Management Consultants (James Silk, Craig Abrahams) – commercial diligence

About BGF:

BGF was set up in 2011 and has invested over £4bn in more than 600 companies, making it the most active investor in the UK. BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the UK and Ireland through its network of 15 offices. BGF is a certified UK B Corporation (B Corp), reflecting its commitment to creating a positive impact across the growth economy.

About Signify Research

Signify Research provides healthtech market intelligence powered by data that you can trust. We blend insights collected from in-depth interviews with technology vendors and healthcare professionals with sales data reported to us by leading vendors to provide a complete and balanced view of the market trends. Our coverage areas are Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences, Healthcare IT and AI in Healthcare.

Clients worldwide rely on direct access to our expert Analysts for their opinions on the latest market trends and developments. Our market analysis reports and subscriptions provide data-driven insights which business leaders use to guide strategic decisions. We also offer custom research services for clients who need information that can’t be obtained from our off-the-shelf research products or who require market intelligence tailored to their specific needs.