Healthcare investment firm Apposite Capital has divested of its interest in homecare provider portfolio business SureCalm Healthcare.

The deal, which is for an undisclosed amount, has netted Apposite a 45 per cent internal rate of return on its initial investment, which came in the form of a 2010 management buy-in.

SureCalm provides homecare services to patients with long-term chronic problems in the UK. The 2010 buy-in saw three Dispensing Appliance Contractors (DACs) focusing on stoma, urology and continence care come together to form the new business.

Overall employee numbers have grown by 30 per cent during the investment period. In realising its investment, medical technologies Amcare has acquired control of SureCalm.

Sam Gray, partner at London-headquartered Apposite, comments, ‘The triple buy-in was a complex transaction but provided an ideal platform to build a comprehensive and differentiated homecare services business.

‘However, in only two years, the company had demonstrated significant organic growth in its core DAC business as well as in expanding its service lines.’

Kevin Hodges, co-founder and CEO of SureCalm, says that, on the back of Apposite’s departure, he is confident that the business will continue to prosper under Amcare’s ownership.

Co-founder and chairman of SureCalm, Nigel Clarke, adds, ‘Our partnership with Apposite Capital has been very valuable. Not only did Apposite provide vision, expertise and understanding of the business but hey also provided constant support as well as leveraging their network to appoint a high quality board and facilitate business development discussions.’