Poised for growth

In 2004, there was a critical need in hospitals; more efficient sterilisation and improved medical instrument traceability. A small team, including Laurent Chatelain and Dries Vanbiervliet was created and founded Aexis Medical, to develop software to address these challenges. The company rapidly became a success story.

Over time, it added solutions for operating theatre management and endoscopy. Soon, it had secured 75% of the sterilisation market in Belgium– almost reaching saturation point – as well as a 50% share in theatre management.

Aexis was ambitious to expand into other European territories, but customer wins were often opportunistic. While Dries and his team were ready to scale into new markets, their challenge was how to do so in a strategic, structured, low-risk way.

Securing the right investment partner

Bringing in an outside investor was a clear option but Dries and his team were sceptical.

A US hardware provider in the endoscopy space had acquired Aexis Medical in 2018, but the deal hadn’t been a success. The acquiring team didn’t understand Aexis Medical’s software business model. When key decision-makers departed, the team battled for survival. Frustrated, the founding team bought the company back in 2020.

This time, they were determined to learn from the past and choose an investment partner who shared his vision for the company’s future.

Dries comments:

“Our business had saturated the Belgium market, and we needed a structured approach to other territories, including the UK. We wanted a partner that knew our market and would support long term success – not an investor that had no idea about our business or was looking for a quick exit.”

There was a lot to consider. Was the timing right? What would be the right approach to the UK market? How stable is the potential investor? What expertise would they bring? And could Dries and his team stay involved?

Right time and place

After a well-timed introduction from Upliift, Dries felt his search for the right partner was at an end.

Dries explains;

“One of the things that resonated most was Upliift’s permanent equity approach. They would invest in our software, invest in the company, help create subsidiaries in other markets, focus on growth – and stay on board for the long term.”

Unlike traditional investment options, Upliift’s transparent, founder-friendly approach reassured Dries that it could offer the long-term stability and support he was looking for.  Most importantly, he felt with Upliift the business would find the growth trajectory they had been looking for.

The deal

For Dries, the right partnership meant retaining control over the business and decision-making while benefiting from strategic guidance and a platform for international growth. With Upliift, he secured a flexible investment deal that allowed him and his leadership team to continue leading the business while benefiting from additional expertise and support.

Upliift’s diligence process was efficient and minimally disruptive. Rather than making endless requests, Upliift focused on key indicators of growth potential, including customer traction, top-line financials and contracts – leaving Dries and his team free to continue focusing on running the business.

Dries comments:

“The process was straightforward. Upliift understood our business quickly and didn’t require an exhaustive deep dive. It took just four months from our first conversations to signing the final contract.”

The future

With the investment finalised, Aexis is already putting its UK expansion plans into action.

It has opened a new UK office and is building its local team. Upliift’s advisors are providing insights into the UK healthcare system from procurement to operations.

Together Aexis are combining successful best in class, mature, capable products, with the investment and specific operational knowledge and software business expertise from Upliift needed to scale.

Dries concludes with some advice for other founders;

“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 you want to exit, Upliift would be a great partner for you.”

With Upiift, Aexis Medical has found an investment partner who shares its long-term vision. It’s new strategic approach to opening markets is setting the company up for sustainable growth.