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Drury Lane Capital plans to be a consolidator in the healthcare software market. The first step on this path was the acquisition of Adastra Software, which supplies medical event management, data distribution and clinical support software to healthcare providers, for £12.2m. At the same time Drury Lane raised £14.6m from a share placing at 17p a share. The appointment of Vin Murria as chief executive came at the same time as the acquisition. She had previously run Computer Software Group, which was acquired by HgCapital in May 2007 for 150p a share – valuing the company at £99.6m. It subsequently merged with IRIS and was sold for $1bn. Drury Lane joined Aim on 30 October 2006, when it raised £4.5m (£4.35m net) at 10p a share. It was a Marwyn-backed shell looking to acquire businesses in a sector that was ripe for consolidation.
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