Salica Investments has provided Cirdan with a £4 million venture debt facility. Cirdan announced the facility on 14 April 2026, together with more than £3 million of additional equity, in a transaction Salica said is its first deal in Northern Ireland.
Cirdan said the money will support international expansion and the continued development and global deployment of Vision Path, its pathology platform. The venture debt and the extra equity sit inside a £12.9 million funding package the Lisburn company announced on 5 March.
Cirdan, led by Chief Executive Hugh Cormican, makes software and imaging systems used in hospital and laboratory diagnosis.
The additional equity includes £1.25 million from 57 Stars, a US investment manager, and £1.25 million from the Investment Fund for Northern Ireland equity fund, which is managed by Clarendon Fund Managers. The British Business Bank launched the £70 million IFNI, and Clarendon manages the fund's £40 million equity sleeve.
On 5 March Cirdan said the £12.9 million package is supported by £1.9 million from Invest Northern Ireland and will fund innovation, skills development and international expansion, creating 72 new roles by 2028.
In October 2024 Cirdan raised £7.5 million of equity, comprising £5 million from 57 Stars and £2.5 million from IFNI. Neil Simms, Investment Director at Clarendon, said the latest investment brings total investment in the last year to more than £14 million. He said Cirdan's team and customer base are centred in the UK, Australia and North America, and that the company processes millions of laboratory tests a month.
Stephen Fahy, Venture Debt Partner at Salica, said: "We are very happy and proud to have Cirdan as our first investment in Northern Ireland." He said Salica looked forward to supporting the company's growth plans as it develops diagnostic technologies in its imaging and laboratory information system products.
Salica is a London multi-strategy private markets firm that invests across equity and debt. Its growth debt strategy provides senior debt to high-growth software, advanced manufacturing and IP-rich businesses.
On 1 October 2025 Salica announced a first close of Growth Debt Fund II at £150 million, with the British Business Bank and West Yorkshire Pension Fund each committing £30 million as repeat anchors. The fund provides senior secured loans to high-growth UK companies in software, IP-rich hardware and advanced manufacturing.