Equine Technology company Equine MediRecord has closed an investment for an undisclosed eight figure amount, thought to be just over €10 million, to drive adoption of its equine welfare and anti-doping platform in Europe, North America and the Middle East. The company also plans to expand its growth and operations team.
The investment came from Chicago based private equity firm Merit Holdings through their Inova Group Holdings platform which also previously acquired Business Infusions, the largest equine veterinary software group in the world. Business Infusions is the owner of a number of equine technology products including Hospital Veterinary Management System, Cassadol Equine and Signature Veterinary Practice Management Software. Equine MediRecord will also join the Business Infusions group.
Founded by Pierce Dargan, Simon Hillary and Finlay Dargan in 2016, Equine MediRecord is a previous winner of Tangent’s Trinity Launchbox in 2017. It is now headquartered on The Curragh, in Kildare, and has been supported by the Kildare Local Enterprise Office, NDRC and Enterprise Ireland. The Equine MediRecord platform has gained a lot of international traction in Ireland, the United Kingdom, The United States and Saudi Arabia with clients such as the Breeders Cup World Championships, The Saudi Cup and the American Classic Preakness Stakes.
“It’s great to be supported by Inova Group and Business Infusions and that they believe in our goal to promote equine welfare and anti-doping best practices by driving adoption of our Equine MediRecord platform’,” said Mr Dargan. “This funding will help us bring our platform to more horse farms and equine events ensuring equine welfare best practices are being adopted in Europe, North America, the Middle East and beyond.”
“Equine MediRecord is a compelling network-based platform that is helping to transform and digitize the equine industry with a clear and quantifiable value proposition for trainers, events, associations, vets and the broader equine community, underpinned by a scalable cloud-based software platform and distinguished by a strong leadership team. We look forward to partnering with and supporting Pierce and Finlay Dargan and the broader EMR team to capitalize on the Company’s significant growth opportunities to build the premier platform promoting equine welfare and anti-doping for decades to come.” said John Burke, Chief Executive of Merit Holdings.
“With the deep roots in the equine domain, Pierce and Finlay have solved a key problem for the ecosystem and they were a natural fit for our expansion plans as our first acquisition. EMR brings a unique perspective to our team and will further enable Business Infusions to grow globally and provide equine health solutions to this industry through technology integration. We are excited to have these talented leaders on our team .” said Scott Pickard, Chief Executive of Inova Group & Business Infusions.