THE BANK OF IRELAND KERNEL CAPITAL FUNDS Lisburn based CIRDAN secure £8M+ Investment

From Left: Stephen Dunniece, Director, Cirdan & Denise Sidhu, Partner, Kernel Capital.

Cirdan, a Kernel Capital portfolio company, have completed an £8M+ investment. The investment round comprised of US based, 57 Stars through their 57 Stars Global Opportunity Fund (NYSCRF), with existing participating investors; Kernel Capital through The Bank of Ireland Kernel Capital Growth Fund (NI) and Clarendon Fund Managers through their Investment Fund for Northern Ireland. The Bank of Ireland Kernel Capital Growth Fund (NI) first invested in 2015 and today is the company’s largest shareholder.

Cirdan’s advanced solutions in pathology diagnostics enable laboratories globally to streamline operations, improve accuracy, and support personalized medicine, ensuring better health for all. Cirdan‘s products and services are deployed in over 200 clinical laboratories and hospitals across 20 countries worldwide, notable clients include the NHS England, the HSE, the Australian Centre for the Prevention of Cervical Cancer, Australian Clinical Labs and U.S. Becton, Dickinson & Company (BD).

This round of funding will allow Cirdan accelerate its global expansion to complement its presence in Northern Ireland, the US and Canada and expand its team of specialists.

“In 2015 when we first invested in Cirdan it was a 20 person company, with a dynamic CEO and big on ambition. The past 9 years have been a rewarding journey, it’s great to see the Company today employing 120+ people and scaling rapidly, a testament to the power of combining bold ideas with the right support. We welcome 57 Stars investment and look forward to continuing to support this excellent team in their global expansion.” 

Denise Sidhu, Partner, Kernel Capital

The Bank of Ireland Kernel Capital Growth Fund (NI) is part of Invest Northern Ireland’s Access to Finance suite of funds and was designed to help SMEs in Northern Ireland accelerate their growth. Invest Northern Ireland has committed £15 million of funding to this Fund which is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020.