The multi-million investment aims to accelerate Signify Research's growth and expand its market presence as a trusted supplier of high-quality research, consultancy, and market intelligence to the global healthcare technology industry.

Signify Research’s in-house research team provide unrivalled subject matter expertise and data-driven insights across its key coverage areas of Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences, Healthcare IT and AI in Healthcare, which business leaders use to guide strategic decision making.

Following BGF’s investment, Signify Research will continue to focus on providing reliable and insightful services to its customers, while at the same time increasing the breadth of its coverage areas and the depth of research provided.    

The business will continue to be led by an experienced management team, including co-founders Steve Holloway (CEO) and Alex Green (COO).

Alongside the investment, Signify Research’s leadership team has also been bolstered with the appointment of Gareth Miller as non-executive Chair, following an introduction from BGF’s Talent Network.

Gareth was previously the CEO of BGF-backed Cornwall Insight, a provider of research, data, and analysis to the energy sector, which was acquired by Bowmark Capital in 2022. Having successfully scaled Cornwall Insight through to exit and with a wealth of experience in driving long-term, sustainable growth in B2B services, Gareth will be supporting the Signify Research leadership team in executing the company’s ambitious growth strategy.

Steve Holloway, CEO and Co-Founder of Signify Research, said: "We are excited to welcome BGF as a strategic partner. Their investment will enable us to scale our operations, enhance our product offerings, and reach new markets. This partnership is a testament to the strength of our business model and the potential for future growth. We are confident that with BGF's support, and the highly relevant experience of Gareth Miller, we will continue to lead the way in delivering cutting-edge healthcare technology market intelligence solutions."

The deal was led by Mark Nunny and Elena Kovalikhina, investors in BGF’s Central and East team.

Mark Nunny, investor at BGF, said: "We are thrilled to partner with Signify Research, a sought-after market analysis firm that has consistently demonstrated innovation and leadership in the healthcare technology industry. Our investment will provide the necessary resources to support their ambitious growth plans and drive further advancements in their technology. We look forward to working closely with the Signify Research team, and Gareth, to achieve their vision."

BGF's investment in Signify Research is part of its ongoing commitment to supporting high-potential businesses across the UK and Ireland. With a portfolio of over 400 companies, BGF has a proven track record of helping businesses achieve their growth ambitions.

Mike Tillson, Corporate Finance Partner at Grant Thornton, who advised the Signify shareholders on the deal, said: “We are thrilled to have supported the Signify team on finding a fantastic partner for the business. BGF and Gareth’s prior experience in the sector will provide invaluable input and will also enable the business to accelerate a number of its growth initiatives. BGF’s investment allows fellow co-founder, Simon Harris, to achieve a clean exit, and enables Steve and Alex to provide equity alignment to additional members of their management team. We are confident the partnership will be highly successful.”

Advisors to the deal include:

• Grant Thornton (Mike Tillson, Nigel Le Bas, Andre Lamego, and Zach Rose) – corporate finance
• Wilson Partners (Dan James) – financial diligence
• Howes & Percival (Gareth John, Matthew Thompson, Helaina Mann) – lawyers acting for BGF
• Shoosmiths (Aleks Bosch, Jordan Telford) – lawyers acting for Signify  
• Claritas (Katie Edwards) – tax advice
• SBR (Alan Morton, Juliet Hall, Thomas Coles) – sales diligence
• CIL Management Consultants (James Silk, Craig Abrahams) – commercial diligence