If you’re a healthcare software founder in Europe, you’ve probably noticed how much attention your sector is getting. And for good reason – tools that streamline workflows, optimise diagnostics, or connect patient journeys are becoming essential across European health systems.

With growing demand and more interest from buyers, many founders are starting to think about what’s next. How do you keep growing while protecting what makes your company special – your culture, your people, and your mission?

Why traditional investment routes often don’t fit

There’s no shortage of options for founders thinking about their company’s future, from Private Equity and Venture Capital to Trade Sales or Management Buyouts. But many quickly discover that most of these paths feel like hammering a square peg into a round hole.

Traditional investors often expect fast growth and even faster returns. Venture Capital and Private Equity funds typically operate on short timelines, pushing for aggressive targets and quick exits. That pressure can force companies to prioritise short-term performance over long-term strength.

The numbers tell the story. Around 20% of leveraged buyouts backed by Private Equity firms go bust within a decade. And in succession planning, when founders try to pass the business to the next generation, 70% of companies fail before reaching the second. Even when things go well, the return for the founder is often less than hoped.

So, while there appear to be many options, few allow founders to exit or scale in a way that truly preserves their legacy.

There is also a question many founders only confront after the fact: even if the first owner is the right fit, who comes next? Most Private Equity firms will sell the business on at the end of their hold period, and the second owner’s priorities may look nothing like the first’s. For healthcare businesses, where patients sit at the end of every workflow, the identity of the next owner is not an abstract question.

A better way: growing without letting go

For many specialised healthcare software businesses, there’s another path that aligns far better with their goals: Permanent Equity.

Permanent Equity means investing to hold forever. There’s no pressure to sell in five years; no restructuring just to drive returns. Instead, it’s about sustainable growth — building stronger, more resilient companies over time.

At Upliift, we believe this approach is particularly well-suited to mission-driven founders. Many have built their companies out of a desire to solve specific healthcare challenges, not just to generate profit. Permanent Equity allows them to continue that mission while benefiting from the experience, resources, and network of a long-term partner.

It’s a model that values the founder’s vision as much as their balance sheet. You can stay involved in the company’s journey for as long — or as little — as you like, while ensuring it continues to thrive.

Why now? A turning point for healthcare software

Healthcare software in Europe is entering a new era. Regulations like the European Health Data Space (EHDS) are creating more opportunities for companies with interoperable solutions to expand across borders. Artificial Intelligence is reshaping the sector at the same time, opening real opportunities for those who navigate it well. That is one more reason to choose an investor with the time horizon and sector knowledge to help integrate AI thoughtfully, rather than one chasing the next quarter.

At the same time, consolidation is reshaping the sector. Larger players are acquiring smaller ones, sometimes successfully, but often at the expense of what made those smaller companies unique. For many founders, the challenge is finding a partner who can help scale their business without diluting its culture or purpose.

That’s where Permanent Equity truly stands out. It supports growth while safeguarding identity, giving founders the chance to expand thoughtfully and sustainably.

Questions worth asking any investor

Whoever you eventually choose to partner with, a few questions tend to surface the things that valuation alone never reveals. What is the plan for the business in the first 12 to 24 months, and what is your role in it? What happens beyond five years, and who might own the company then? Will profits be reinvested in the business, or extracted? What does this investor add beyond capital – sector knowledge, a network, support entering new geographies? The answers to these questions are often what separates a partner from a buyer.

And one more, often the hardest: is now the right time? Most founders find their business is never quite ready – there is always one more product release, one more hire, one more good quarter to wait for. In our experience, the business is rarely ready in the way founders imagine. You lose very little by having an exploratory conversation, and you may discover that the right partner can accelerate exactly the plan you were waiting to deliver alone.

Aexis Medical: expansion with purpose

For Dries Vanbiervliet, founder and Managing Director of Aexis Medical, the turning point came when his company had saturated the Belgian market and needed a structured approach to expand internationally.

“Our business had saturated the Belgian market, and we needed a structured approach to other territories, including the UK,” Dries explains.

“We wanted a partner that knew our market and would support long-term success – not an investor looking for a quick exit.”

With Upliift’s industry expertise and the guidance of Healthcare Advisory Board Members Dr Indra Joshi and Alexandra Eavis, Aexis achieved one of its biggest milestones: opening its first UK office and beginning expansion into a key new market. Soon after, the first extension contracts were signed, followed by meeting all the regulatory requirements to compete in NHS public tenders.

“One of the things that resonated most was Upliift’s Permanent Equity approach,” Dries adds.

“At no point has anyone at Upliift asked us to change our culture or work differently. We’ve been recognised as an entity with our own identity and our own plan. I’m still leading the company, working from our own experience of the market and the customers we know.”

His advice for other founders considering investment?

“Transparency is key. Be clear about what you do and don’t want from an investor. Upliift took all of that into account for us. If you want to stay with the business for the short or long term — or if you want to exit — Upliift would be a great partner for you.”

Securing the future, together

For healthcare software founders who want to scale sustainably while preserving their culture, Permanent Equity offers a rare combination: long-term support, deep sector understanding, and genuine respect for your mission.

It’s not about changing what you’ve built, rather it’s about helping it reach its full potential.

With Permanent Equity from Upliift, you can grow confidently, protect your team, and ensure your legacy continues to make an impact — today and for years to come.

And the best conversations rarely start when a founder is ready to sell. They start years earlier, with no expectation on either side, simply to understand whether the fit could be right when the time comes. Some of our strongest partnerships began with conversations that ran for years before a deal took shape, and the trust those conversations build is part of what makes the eventual decision an easier one.

If you’re a healthcare software founder exploring your next chapter — whether that means scaling, stepping back, or securing your legacy — we’d love to talk.