Matrix invested £3.2 million in a mix of debt and equity, and has acquired a minority stake in the business.

The four-strong management team was led by managing director Mark Cresswell, who comments: ‘We set Matrix against other investors, and it primarily came down to their competitive offer, but also whether we would work well together as a team post-deal.’

The transaction represents an exit for Focus’ original investor, who supported the current team when they acquired the business from pharmaceuticals distributor ADL Healthcare in 2003. The management team have rolled over their existing holdings in the company.

Ashley Broomberg, partner at Matrix, comments: ‘The great strength of this business is that a team combining rare regulatory skills and a strong commercial network in the pharmaceutical industry has come together.

‘The market drivers are strong – the UK faces an ageing demographic and there is a clear need to drive down healthcare costs.’

Focus specialises in identifying and developing niche opportunities which fall outside of the major pharmaceutical companies’ areas of expertise. It employs 15 people and is profitable with annual revenues in excess of £10 million.