Mazars Corporate Finance Advise Relatecare on its Investment from MML Capital
Mazars Corporate Finance is delighted to announce that it has acted as exclusive financial adviser to RelateCare, on its investment from MML Growth Capital Partners Ireland. The deal represents a significant investment in the business alongside CEO, Conor O’Byrne, President and Co-Founder, Dr Frank Dolphin, and Co-Founder Adrienne Dolphin.
RelateCare is healthcare communication, consultancy and outsourcing organisation, set up in 2014 as a joint venture between the leading US healthcare system, Cleveland Clinic and the Waterford based contact centre company, Rigneydolphin. The Group combines the proven expertise of Rigneydolphin with the excellence in healthcare that Cleveland clinic provides to bring a compelling outsourced service to the US healthcare industry. RelateCare has since built an excellent reputation as a leading partner for hospital groups throughout the US.
Both RelateCare and Rigneydolphin are headquartered in Waterford, Ireland. RelateCare operates a world-class contact centre in Waterford and Cleveland, Ohio, employing 550 people across all locations, including over eighty registered nurses. An additional US centre is currently in the planning phase.
“We’re delighted to receive this backing from MML”, commented Conor O’Byrne, CEO, RelateCare. “It is a validation of our success in this growth market and our future expansion plans. With its experience of working with ambitious and focussed management teams, MML is the perfect partner for the next stage of our journey. This investment will give RelateCare additional financial support to expand in its target markets.”
“RelateCare has developed a strong reputation in a very dynamic and growing market”, commented Rory Quirke, Co-Head of Investments, MML Growth Capital Partners Ireland. “We are delighted to have partnered with the RelateCare management team and look forward to supporting their ambitious plans to scale the business further”.
John Bowe, Partner, Mazars Corporate Finance, said: “Brilliant result for Frank, Adrienne, Conor and wider RelateCare team. RelateCare is well placed to continue servicing its impressive list of US healthcare clients. With the backing of MML Capital, we look forward to seeing RelateCare continue its excellent growth trajectory with further expansion into the outsourced US Healthcare market. Mazars ran a very competitive process receiving domestic and US interest from both Private Equity funds and Trade partners, which is a testament to the strength of the opportunity and the Mazars Global team”.
RelateCare Co-Founder, Dr Frank Dolphin, said “Working with Mazars Corporate Finance was a positive experience for us. The transaction goes through many stages, and the Mazars team were very skilful in guiding us through that process. They provided us with the right blend of professionalism and assurance throughout”.
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