Gresham, a mid-market private equity firm, has completed its twelfth exit in the last year by selling Medical System Solutions to Invacare, a US healthcare business. Sources close to the deal confirmed the price paid was £13.5m (€19.7m).

Gresham, which also raised £237m for a third buyout fund in May of 2004, has now realised over £200m in exit proceeds since the successful IPO of office supplies group Office2Office last July.