Private equity specialist HGL Private Capital announces successful exit from FutureMeds

Private equity specialist HGL Private Capital has announced a successful exit from FutureMeds, a leading European independent clinical trials business.

HGL Private Capital has reported a 10 times money multiple on its initial investment, made in 2021, after selling its stake in FutureMeds to Phoenix Equity Partners.

The HGL Private Capital team say the exit marks an important milestone for FutureMeds, demonstrating its recent growth and innovation in the clinical trials sector.

Headquartered in Wroclaw in Poland, FutureMeds has grown from six sites in 2021 to now operating from 28 locations spanning Poland, Germany, Spain, Bulgaria, Romania and Ukraine. In the UK, FutureMeds has staff in Birmingham, Glasgow, Liverpool, London, Newcastle and Teesside.

In June, FutureMeds took 44th place in the Sunday Times 100 fastest growing companies league table. Its most recent accounts, for the year ended 31 December 2024, showed revenue had grown year on year to £27m from £15.5m. During the same period, the number of people employed grew from 287 to 397.

HGL Private Capital first invested in FutureMeds in 2021 after recognising its potential for growth in the healthcare sector. In 2023 HGL Private Capital provided additional funding to support organic growth and its ambitious buy-and-build strategy.

The investment enabled FutureMeds to expand its capabilities and strengthen its position in the European clinical trials market, enrolling tens of thousands of patients annually.

Under the leadership of Chief Executive Officer Dr Radoslaw Janiak, Chief Financial Officer Marcin Gondek and Chairman Paul Chambers, FutureMeds has grown while delivering clinical trial solutions and services to its clients, including leading medical and pharmaceutical brands.

Paul Chambers said: “HGL Private Capital has been a tremendous support for FutureMeds. Their commitment and strategic insights were invaluable in our journey to becoming the leading independent clinical trials business in Europe. We are grateful for their partnership and are excited to embark on this next chapter with Phoenix Equity Partners.”

HGL Private Capital was launched in March after rebranding to replace Dealspan, offering a new strategic focus on investing in fast growing businesses with UK and international growth ambitions.

With the new set-up reflecting a move to prioritise private equity investment in businesses across the UK and internationally, HGL Private Capital now concentrate on equity investments up to £10m, with specialisms including management buy-outs, cash out deals and finance for growth plans, both organic and “buy and build” strategies.

HGL Private Capital Founding Director Ged Gould said: “It has been a pleasure working with the entire management team at FutureMeds.

“They have done an outstanding job driving the company’s growth and we are proud to have played a role in their success. We wish them all the best for the future as they continue to innovate and lead in the clinical trials industry.”