Software Circle buys Midexpro owner for up to £4.5 million

Software Circle ($SFT) acquired Gintech Solutions, owner of the Midexpro medical-practice software business, for potential cash consideration of £4.5 million. It paid £2.6 million at completion, with £600,000 deferred for one year and up to £1.3 million dependent on recurring-revenue and EBITDA targets over two years. The initial payment was financed through its existing revolving credit facility, taking the amount drawn to £13.2 million.

Midexpro serves nearly 800 private medical practices and generated unaudited revenue of £1.1 million in the year ended June 2026. Software Circle based its valuation on an expected EBITDA run rate of approximately £500,000, rather than that figure being stated as achieved annual earnings. The buyer expects the deal to add to earnings and cash generation in its first year. Midexpro becomes its twelfth specialist software business.

Sources:

• RNS via London South East
• RNS via TradingView