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Kainos Makes Medical Investment

Belfast-headquartered IT business Kainos, which counts the likes of Netflix, Diageo and EasyJet as clients, has invested in a Lisburn-based supplier of medical products.

The company has acquired 10 per cent of the share capital of Cirdan Imaging as part of a £900,000 investment.

Formed in 2010, Cirdan has offices in Canada and Australia. It designs, manufactures and supplies software and imaging services for the acceleration and enhancement of medical diagnosis.

The stake has been bought as part of a wider £3.5m fundraising led by Kernel Capital which will enable Cirdan to invest further in product development.

Brendan Mooney, chief executive of Kainos, said: "We are delighted to have made this investment in Cirdan, which is a fast-growing and exciting medical diagnostics business.

"Cirdan has already established a strong customer base and, by working in tandem, we will be able to promote Kainos' services and products, while helping Cirdan further develop its unique ULTRA proposition.

"Our close relationship will open doors for both businesses, creating interesting new growth opportunities."

Hugh Cormican, chief executive of Cirdan, said: "This investment comes at an exciting time for Cirdan as we continue to expand our products into new territories."