“We’re delighted to receive this backing from MML Ireland. It is validation of our success in this growth market and our future expansion plans. With its experience of working with ambitious and focused management teams, MML Ireland is the perfect partner for the next stage of our journey. This investment will give RelateCare the additional financial support to expand in its target markets.”

Conor O’Byrne, CEO, RelateCare

RelateCare

relatecare.com
Alternative solution to a trade sale. Invested for a significant minority stake to support MBO by the CEO and provide a partial exit for the founders.

The business

RelateCare is a leading provider of consultancy and outsource services focused on patient contact centres to major US healthcare systems. The company  provides outsourced services that enhances patient engagement and satisfaction whilst driving operational efficiencies and enhancing overall hospital profitability for its customers.

The deal

RelateCare is headquartered in Waterford, Ireland, with two operational bases in the US in Ohio and Arkansas. Since its establishment, the company has grown rapidly and built a blue chip customer base with large US health systems, driven by the CEO, Conor O’Byrne. MML Ireland was introduced to the company as an alternative to a trade sale. The founders of the business wanted to realise a portion of their value but were cognisant of Conor’s position as both executive and shareholder, whilst Conor sought a partner who could facilitate a partial exit for the founders but also provide the company with the guidance, resources and capabilities it needs to expand and scale. MML Ireland built a strong relationship with Conor and the founders based on our track record and value-add in scaling and internationalising businesses. MML Ireland invested for a significant minority stake to support the MBO by Conor and provide a partial exit for the founders with a plan to put in place the structures, systems and processes needed to grow and scale the business and build on the existing strong customer base.

Fund
MML Ireland Fund I
Region
Republic of Ireland
Deal Status
Current
Sector
Healthcare

Related news

RelateCare creating 280 new jobs in Tralee expansion
Kerry jobs will bring total RelateCare employment to over 1,700. Hybrid working to be model in Tralee.
MML Ireland partners with RelateCare
RelateCare, the healthcare communications consultancy and outsourcing organisation, announced that it has agreed a deal with MML Ireland.

Associated deal team

Rory Quirke

Partner and Co-Head of Investments

Shane Cooke

Investment Director

MML investor portal logins

For investors in MML Ireland Fund I, MML Ireland Fund II & MML Fund VI

For investors in MML Fund VII