© Reuters. Braveheart Investment completes sale of Phasefocus
Proactive Investors – Braveheart Investment Group PLC (LON:) announced it has completed the sale of Phasefocus, the medical imaging company.
Bruker UK paid around £2.1 million for the business, having met all the conditions of the deal.
In a prior statement, Braveheart said it had not yet decided whether to hand the cash it receives to shareholders or to invest it in other early-stage tech businesses.
Trevor Brown, CEO of Braveheart, commented: “The sale of our holding in Phasefocus represents a gain of £1.31m over cost, which is a highly satisfactory CAGR of 48.29% for Braveheart shareholders.”
In December, shares in Braveheart rallied after it revealed the plans to sell Phasefocus, just a week after it placed its rapid-testing business on the market.
Braveheart said it has decided to seek a cash buyer for its wholly owned investee company Paraytec to realise near-term value for shareholders.
The group said in a statement alongside its interim results that it has hired an M&A specialist to market Paraytec to seek acquirers for the business, products and technology portfolio.
