Irish start-up ResHub bought by UK social care tech group PCS

Speaking with the Sunday Independent, Sean McLoughlin and Neil Hosey, who co-founded the business in 2020, said it had been acquired by Person Centred Software (PCS), which is part of private equity-backed Connected Care Group.

The British company acquired ResHub to help it develop a connected care platform that allows residents and loved ones to engage online, share up-to-date information and book residents’ services in care facilities.

McLoughlin said the deal would help it hit its target of being able to support 1,000 nursing homes in 12 months. ResHub currently has clients in the UK, the US and Australia.

“Really, we know we can grow faster and more effectively with PCS,” he said. “They have an existing client base where they can bring ResHub to them, while we will also be a standalone product.

“For us, we will get to realise the product vision within the group that gives us the expertise overnight.”

Hosey said the acquisition would give ResHub extra credibility when selling to large corporate businesses such as publicly listed care home groups. He added the company would begin hiring to help it achieve its growth plans.

Leading up to the acquisition, McLoughlin said ResHub had initially gone out to market seeking an investment of around €1.5m.

“That would have helped us execute some of the contracts in our pipeline and get to the other side,” he said.

“The PCS acquisition deal just made sense,” he added. “It brings us that scale and expertise – it brings us to customers and gives them comfort that we have that operational expertise now. You are not dealing with a start-up – you are dealing with a market leader.”

According to Connected Care Group’s accounts, Brighton-based private equity firm Cow Corner acquired a controlling stake of Person Centred Software. It was subsequently renamed to Connected Care Group.

The accounts show Connected Care Group had a turnover of over £10.9m (€12.7m) and employed a monthly average of 135 staff for the eight months to May 31, 2023.

Cow Corner was co-founded in 2018 by former private equity investment firm HgCapital managing partner Matthew Rourke and Stephen Baxter, who led one of the UK’s largest port businesses, Peel Ports.