Atlantis Vest Invests in Software Company Avans

Over the past 12 years, Avans has grown to become a leading national software provider in select niches within the health, rehabilitation, and vocational rehabilitation market, and Atlantis Vest now wishes to be part of this development. Avans’ solutions streamline patient and user management for its clients and support the increasingly stringent requirements for efficiency, traceability, and staff safety that the entire sector faces. The company is headquartered in Dale, Sunnfjord, and has a branch office in Bergen. Atlantis Vest has closely followed the healthcare IT sector in recent years but has seen few other companies with a position—both technologically and functionally—that is as well-suited to becoming a major player in this market.

The founder of Avans is also optimistic about the future and looks forward to having a strong partner behind him as the company moves forward: “We have remained true to our concept for many years, while at the same time being responsive to our customers’ needs and wishes; we are now seeing this begin to bear fruit with a very strong influx of customers, particularly in the rehabilitation market. We are now ready to expand our market reach with our products. In this context, it is of great value to have Atlantis Vest on board as an owner, as they will provide capital, resources, and networks to help take Avans to the next level,” says Magnar Høyvik, CEO and founder of Avans.

Continued Focus on Rehabilitation Facilities, Labor Market Enterprises, and Growth Companies Avans will continue to focus on its existing market niches targeting rehabilitation facilities, labor market enterprises, and growth companies, but at the same time is open to exploring additional niches over time within health, rehabilitation, substance abuse care, vocational rehabilitation, and welfare. Avans’ primary focus is on digitization and the secure processing of structured personal and health data. “Any organization that handles some form of user or patient flow and needs to address issues related to traceability, access control, and the storage of information associated with these users or patients is, in principle, a potential Avans customer at some point. At the same time, we’re also working on simpler solutions for communication between users/patients and healthcare institutions, which will enable far more efficient communication than is possible today and eliminate the need to repeatedly provide and process the same information,” says Høyvik.

Investment Rationale “We see the major challenges facing the healthcare sector—an aging population, a shortage of healthcare professionals, and increased demands for traceability and privacy—while at the same time recognizing how technology can help transform the way we think and work, enabling us to both provide better services and operate more efficiently. Within this ‘spectrum,’ Atlantis Vest, as a long-term, family-owned investor, wants to play a role, and we believe that Avans is a good platform from which to do so,” says Trond Valvik, Chief Investment Officer at Atlantis Vest.