The deal is worth £9.9 million, of which ISIS is contributing £4.6 million through its Baronsmead VCTs.

Other stakeholders include existing investor Midven, a Midlands-focused fund manager. ISIS’ investment was managed by Matt Caffrey, who says: ‘ScriptSwitch is a rare example of a business that has developed a unique product and created its own market opportunity from scratch.’

ISIS’ first move was to introduce Jim Horsburgh to ScriptSwitch’s board as non-executive chairman. Horsburgh has experience of the IT healthcare industry and is currently chairman of System C, a provider of patient administration systems.

ScriptSwitch’s software is supplied to primary care trusts for use by GPs. It currently services 79 contracts with 52 primary care trusts including Darlington, Oxfordshire and Norfolk.