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06 Apr 2020

Stephenson Harwood has advised Elysian Capital on £103 million Wellbeing sale


Law firm Stephenson Harwood LLP has advised Elysian Capital, and the management team of the company, on the £103 million sale of Wellbeing Software to The Citadel Group, a company listed on The Australian Stock Exchange.

The sale of Wellbeing represents the sixth exit from Elysian Capital I LP and realises a 4.5x return for the fund. Wellbeing is one of the UK's major healthcare software companies. Over its history of more than 25 years, Wellbeing has grown through a combination of organic development and acquisitions into a leading UK provider of radiology and maternity healthcare software. Wellbeing is aligned to the UK National Health Service's long-term care agenda, with one or more of its solutions being used in 81% of NHS Trusts across England.

“We advised Elysian Capital on the initial management buyout of Wellbeing in 2014, and have worked with the business throughout the lifetime of the investment," said Malcolm MacDougall, partner, Stephenson Harwood. “This makes it particularly pleasing to be able to see the investment through to its successful exit. This strategic transaction provides Wellbeing with multiple growth opportunities, as it continues expanding its business to become a global name in the healthcare software sector."

The Stephenson Harwood team was led by private equity partner Malcolm MacDougall, with support from senior associates Chris Manning and Nicola Baird, and associate Dafni Loizou.