Livingbridge, the private equity firm, has agreed to sell its majority stake in care sector software provider Nourish to Hg for an undisclosed sum.
Livingbridge will retain a minority equity stake in the business and continue to support the company alongside Hg following the transaction.
Nourish supplies software designed to help care providers plan, record and coordinate personalised care across the UK. The business acquired home care software provider CarePlanner in September 2023 and has recently expanded its artificial intelligence capabilities.
Advisors on the transaction included Arma Partners and Shoosmiths for Livingbridge, alongside Houlihan Lokey and Skadden for Hg.
Livingbridge partner Sanjay Panchal said: “It has been a privilege to support Nuno and the Nourish team over the past four years to improve countless lives. Nourish has become a wonderful example of the impact you can deliver when a culture of care and a bold mission are paired with the very best of today’s technology. We’re excited to continue our journey with the Nourish team alongside Hg, who share our belief in Nourish’s potential to transform care.”
Nuno Almeida, founder and chief executive of Nourish, said: “Livingbridge has been a fantastic partner over the past four years – sharing our values and ambition to transform care, while providing us with the support we need to make Nourish’s mission a reality. Their understanding [of] both healthcare and technology, and how to bring the two together with the required empathy [has] been invaluable.”
David Issott, partner at Hg, said: “Social and community care is some of the most important work in our society, and carers deserve the very best technology to support them in this work. We are delighted to be backing Nuno and the team at Nourish to continue delivering on that. Nourish has a modern product that care providers love, developed in close partnership with the people who use it. Better software allows care workers to spend more time on care and less on admin, helping to deliver better outcomes for the people they support.”
