Kainos announces multi-million mobile tech investment

Kainos, the Belfast-based provider of digital services and platforms, has announced a multi-million pound research and development (R&D) mobile technology investment to develop new software for use in the health sector.

The company said the investment includes £3.1 million (€3.46 million) from Invest Northern Ireland to support R&D, marketing and the upskilling of staff. The group will also take on an additional 17 people.

Kainos is one of the North’s largest locally owned IT services company and along with First Derivatives, is one of just two listed firms in Northern Ireland.

The company, which began as a Queen’s University spin-out, develops digital technology solutions for businesses and organisations in the public, healthcare and financial services sectors.

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Its Evolve Electronic Medical Records (EMR) and Integrated Care (IC) platforms provide a suite of digital services to healthcare providers such as hospitals that can be used on IPhones and IPads.

Chief executive Brendan Mooney last year won the EY Entrepreneur of the Year Award.

"This is a very positive announcement for the ICT sector in Northern Ireland, both for driving economic growth and fostering development of skills that will provide an important boost to the local NI talent pool," said Invest Northern Ireland chief executive Alastair Hamilton.

Kainos recently reported a 9 per cent jump in revenues for the 12 months ending March 2017 on the back of strong demand and geographic expansion, as it eyes a Brexit boon.

Revenues rose by 9 per cent to £83.5 million (€95.7 million), as pretax profits fell 7 per cent to £13.3 million in the 12 months to March 31st.