Melin Medical

Sector: Technology

Leading provider of patient administration systems to the healthcare sector in the Nordics

Business Overview

  • Established in 2010
  • Leading provider of patient administration systems to the healthcare sector in the Nordics
  • Payment, billing and account services that fully integrate with the practitioners’ electronic health record systems
  • Over 12 million patients served each year by Melin Medical’s systems
  • Melin Collectors, a debt collection business acquired in 2013, handles late payments on behalf of practitioner

Investment Thesis

  • Positive market fundamentals within debt collection business driving strong organic growth
  • Expansion opportunities in new verticals such as vets, dentists and hospitals as well as geographically in Sweden and Denmark
  • Highly fragmented customer base with largest customers <1% of total revenue
  • Already integrated with >50% of Nordic electronic healthcare record systems, and another 30% currently in progress
  • #1 player in Norway with a market share of c.95%