Peter brings with him two decades’ experience of the healthcare sector, having founded and run a number of successful healthcare technology businesses.
Notable successes during his career include turning around obstetrics equipment firm Surgicraft, a company that saw sales quadruple under his leadership. It was subsequently sold to ISIS Equity Partners.
Mr Dines founded spinal and orthopaedic medical technology business Surgi C Group and distribution platform Newtech Ortho, both of which were subsequently acquired by private equity.
He holds several directorships across a range of life sciences businesses, including pharmaceuticals firm Cisiv, ultrasound service provider Diagnostic World and Spring Active, a company that delivers self-management programmes for those suffering long-term back pain.
Mark Payton, Managing Director of Mercia Fund Management, said: “Peter brings significant experience and specialist expertise to the growing team at Mercia. He is highly regarded for his track record in identifying opportunities and growing value rapidly through hands-on management in businesses in the medtech and life sciences sector.
“He joins the three other sector-specific investment directors who lead our investment activity in digital; electronics and hardware; and advanced materials, engineering and specialised manufacturing.
“His remit across the life sciences sector will focus specifically on medtech, contract services and diagnostics."
Mr Dines said: “I am delighted to be joining Mercia at this exciting time of expansion for the company. I believe the offering of Mercia fund structures combined with expert support to assist growth is a very attractive proposition to early-stage technology companies. I am very much looking forward to using my past experience to help create new high-growth businesses in the life sciences and healthcare sector.”
The team at Mercia work closely with each portfolio company to accelerate growth.
While operating nationally, Mercia has a particular focus on the Midlands and the North, where the team believe there are opportunities that may not be identified by other technology investors.
The latest tax-efficient technology investment opportunity from Mercia Fund Management is Mercia Growth Fund 4, which opened for investment on Monday, 26th January. The closing date for investment will be on or before Thursday, 30th April, dependent on demand.
It will use the same hybrid structure as Mercia’s four previously launched tax-efficient funds, combining the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS). The minimum investment is £25,000 (75% EIS and 25% SEIS). Tax advantages available through EIS and SEIS investments include initial tax relief of 30% and 50% respectively, loss relief and zero Capital Gains Tax on returns once qualifying shares have been held for at least three years.
Alongside life sciences, Mercia Growth Fund 4 will also invest in a variety of innovative businesses working in the areas of digital, advanced materials and specialised manufacturing, electronics and hardware.
Mercia Fund Management is a wholly owned subsidiary of Mercia Technologies, which listed on the Alternative Investment Market (AIM) in December raising £70m. Mercia Technologies is focused on providing later-stage direct investment to the emerging stars from the EIS and SEIS portfolio within the Mercia Growth Fund series to expand and ultimately exit these businesses.
The combination of EIS and SEIS funds under management and direct investment gives Mercia a unique model which, through follow-on funding, has the ability to back technology businesses with high growth potential anywhere from an early stage, through their growth journey and ultimately to a profitable exit.