AN INVERKEITHING firm has launched an "exciting" fresh chapter under new owners.

Newgate Technology, a software development and IT consultancy which specialises in healthcare systems solutions, has been sold to Athera Healthcare Group in a transaction advised on by KBS Corporate.

Founded in 1988 by Bob Watson, Newgate provides software to assist with hospital department management and efficiency improvements, working across the NHS and the private healthcare sector in the UK and Ireland.

“We are delighted to join forces with Athera Healthcare,” said Adam Watson, managing director of Newgate Technology.

“Their passion and dedication for continued digital and data-based innovation within healthcare matches our own. This partnership marks an exciting new chapter for both of us.”

Newgate provides specialist software to help track and trace surgical instruments, and incorporates a wide range of digital clinical management tools which are used extensively across critical departments within acute care.

To facilitate Bob's retirement plans, the company was sold, in a deal led by Will Griffiths, KBS corporate transaction adviser, to the Athera Healthcare Group, which is backed by private equity fund Aliter Capital.

READ MORE: New rainbow bridge to be unveiled in West Fife woodlands

The sale was made possible due to investment from funds managed by Aliter Capital - which applies a strategy of acquiring and integrating smaller businesses to create sophisticated, professional medium-sized operators within fragmented markets.

Greig Brown, a founding partner of Aliter Capital, commented: “The acquisition of Newgate Technology supports Aliter’s strategy of developing a scaled UK provider of healthcare technology solutions, and we are excited to work with Athera in the next phase of its development.”

Mr Griffiths was “very happy with the outcome”.

“Newgate and its staff will prosper under Athera’s ownership and Bob Watson was a pleasure to work with,” he said.