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System C Healthcare

NHS electronic patient records

Clinical workflow & hospital operations

Long-established NHS software supplier behind the CareFlow electronic patient record suite and the BadgerNet neonatal system, now under its third private-equity owner since 2011.

The read

System C Healthcare supplies electronic patient record, clinical communications and pharmacy software to NHS acute trusts through its CareFlow product suite, alongside social-care case management software via its Liquidlogic subsidiary. Recent wins include a 10-year CareFlow EPR deal with Royal Wolverhampton NHS Trust and an HSE Ireland national rollout of CareFlow Pharmacy in 2026.

It has passed through three private-equity and corporate owners since 2011, McKesson, Symphony Technology Group and now CVC Capital Partners, and trade press has reported CVC running a fresh sale process in 2026 at a target valuation in the £750m to £900m range, unconfirmed by the company.

The Bridgehead view

System C's repeated changes of ownership since 2011 are a reminder that "legacy NHS software incumbent" and "stable long-term partner" aren't always the same thing; trusts signing decade-long EPR contracts are also, in effect, betting on whoever the next private-equity owner turns out to be.

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