Situation
A healthcare SaaS and medical equipment company focused on AI-powered wound diagnostics had compelling technology and growing government contract revenue, but had never turned a profit. The company needed to simultaneously fix its financial performance and prepare for a public market listing.
Problem
The business lacked the pricing discipline, cost structure, and financial infrastructure to support a public market debut. To execute a successful IPO, the finance function needed to be rebuilt, the business needed to turn profitable, and an investor-grade narrative needed to be constructed, all within a compressed timeline.
Actions
Led a simultaneous operational turnaround and public market preparation. Restructured pricing, expanded internationally, and secured government contracts that drove significant revenue growth. Achieved the company's first net profit through cost discipline and organizational restructuring. Built governance and reporting infrastructure, then managed the full LSE AIM IPO process from strategy through close.
Outcome
Raised $16M in a 1.5x oversubscribed IPO on LSE AIM. Generated the first net profit and first positive operating cash flow in company history. Secured significant additional government contracts post-IPO. Valuation grew nearly 4x from pre-engagement private valuation to fully diluted IPO valuation.