Founded in 2001, Hallmarq is commended in the animal health sector for its development of the world’s only MRI scanner for the standing horse. The technology allows vets to identify lameness in horses more effectively than the usual methods of X-Ray or ultrasound, and it removes the need to use potentially risky general aneathesia. The company has also developed PetVet, an MRI system designed for dog and cat anatomy, replacing the use of refurbished human machines. 100 veterinary MRI systems have been installed across 23 countries worldwide including the USA and Australia.
Newable Private Investing has supported the company since 2002 , with the LBA EIS Tracker Fund 4 investing alongside an NPI syndicate in 2007. This exit represents a successful outcome for these investors.
Charles Breese, NPI investor and LBA EIS tracker fund manager, comments, “I had known the core founding team for a number of years prior to the formation of Hallmarq – they had shown the ability to develop consoles for human MRI systems to interpret the data generated by the MRI magnets to enable neurosurgeons to see parts of the brain working which they had never seen before. I was therefore delighted when Hallmarq approached me to assist them raise the first third party funding for the business.”
Michael Walsh, NPI Managing Director, comments, “Hallmarq is a great example of the patient capital provided by early stage investors that is needed to enable U.K entrepreneurs to realise their potential. Our investors have been supporting the company over a number of years and are now reaping a significant financial return. We now wish the company well as it enters its next phase of growth.”