BXTAccelyon

Sector: Health Care

Status: In Portfolio

Fund: I

Deal type: Growth capital

Investment date: August 2013

Our investment in specialist healthcare company BXTAccelyon was based on gaining significant market share in a growing sector.

BXTAccelyon provides patient-specific brachytherapy formulations to the National Health Service, public and private hospitals through term supply contracts.

It provides a specialist therapy for the treatment of early stage prostate cancer – one of the highest drivers of premature death in men in the UK.

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"During the investment phase Elysian were flexible and adaptable since BXTAccelyon was an unusual proposition and that approach has continued as the needs of the business have changed"

"There was great personal involvement and engagement by the Elysian team from the start and I get a real sense that every detail of business provided is digested, reviewed, and thought through before any feedback is provided."

Saheed Rashid

Chief executive, BXTAccelyon

Investment rationale

Brachytherapy is a highly effective treatment using radioactive seeds that compares strongly with alternatives such as surgery in terms of positive outcomes. It also has a lower risk of adverse side effects and damage to the patient.

We saw an opportunity to establish BXTAccelyon as the market leader and only provider focussed solely on the provision and development of brachytherapy.

We have also identified an opportunity to widen the treatment’s applicability to other areas of oncology.

Creating value

Under our ownership, BXTAccelyon has established itself as a leading supplier of brachytherapy.

Under our ownership, BXTAccelyon has:

Won significant contract tenders within its initial target territories of the UK, Ireland, Australia and New Zealand and expanded into Benelux.
Secured a strong multi-year forward order book.
Enhanced its offering through the acquisition of WebBXT, a specialist provider of software specifically for brachytherapy.
Secured exclusive international distribution rights outside of the Americas to the PrecisionPoint device. This enables transperineal biopsies for prostate examination in an outpatient setting, under local anaesthesia without more equipment.