Kernel Capital confirm that Dedalus Group, a leading international healthcare software solutions provider, has acquired Kildare-based Swiftqueue Technologies Limited, a Kernel Capital portfolio company which specialises in hospital appointment and queue management. In addition Kernel Capital confirm that in recent weeks its portfolio company Oncomark, which is developing a prognostic test for breast cancer, has been acquired by an undisclosed international buyer.
Both Swiftqueue and OncoMark as early stage companies received €650k investment from The Bank of Ireland Seed and Early Stage Equity Fund managed by Kernel Capital. The two trade sales deliver €5M in returns to this Fund, which is supported by Bank of Ireland, Enterprise Ireland, The University of Limerick Foundation and the Galway University Foundation. The initial €650k investment in Swiftqueue and in Oncomark, made when they were very early stage companies, demonstrates the power that ‘pre seed and seed’ funding has in being a catalyst for significant Foreign Direct Investment into Ireland. Both Swiftqueue and Oncomark have been acquired by global players who are now funding their scaling plans.