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Published on 01/10/2024
Extens announces the acquisition of a majority stake in Medicore, a Netherlands-based company specializing in the development of a unique solution for mental health and youth care facilities. This marks Extens’s first investment outside of France, in line with its European expansion strategy.
Founded in 2004 and headquartered in Utrecht, Medicore is an innovative and fast-growing developer of unique web-based, interoperable electronic patient and client records (EHRs) and data-driven applications for healthcare. Medicore's software solutions significantly contribute to process improvement, enabling healthcare professionals to fully focus on providing care. The software’s user-friendly design and commitment to continuous improvement are highly valued by its customers, which include mental health institutions, youth care facilities, the medico-social domain, and specialist clinics. Medicore currently serves over 25,000 healthcare professionals.
This third carve-out within the Extens III fund brings together ING Corporate Investments as a local partner, Livingstone Partners, and Medicore's founders who reinvested. The transaction, led by Extens, was also shared with "Investir pour l’Enfance," a sharing fund managed by RAISE, dedicated to financing projects with a high societal impact. Medicore was previously part of The Tenzinger Group, a provider of innovative healthcare ICT solutions and high-quality data, backed by Fortino Capital.
Medicore offers an outstanding 100% SaaS EHR application, which consist of a comprehensive suite of tools, including patient registration, health record management, invoicing, compliance tracking, a patient portal, and a mobile remote app. With a top position in outpatient mental healthcare, youth care and specialist clinics, Medicore is well-positioned for continued growth. The company’s robust product offering and leadership in key segments provide a clear pathway for expansion.
In the coming years, Medicore will focus on enhancing decision support for users, extensive connectivity and delivery of client records from the public cloud. Starting this autumn, Medicore will deliver actionable insights (UPs) based on data from records, aimed at saving time for users. Additionally, Medicore will migrate client user environments to Microsoft Azure before the end of this year, making it the first ECD provider in the Netherlands to offer its clients the benefits of the public cloud.