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VANCOUVER, British Columbia, April 02, 2026 (GLOBE NEWSWIRE) — (TSXV: PTF): Pender Growth Fund Inc. (the “Company” or “PTF”) is pleased to announce that PTF’s holding, Pender Software Holdings Ltd. (“PSH”), has completed its acquisition of BroadCare Solutions Limited (“BroadCare”), as announced in PSH’s press release referenced below.
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BroadCare Solutions Limited operates a suite of patient management software products, including BroadCare, CareTrack, and other tools, alongside its Financial Assurance Managed Services offering. Trusted by the National Health Service for over 15 years, BroadCare Solutions Limited serves approximately 75% of the Integrated Care Boards in the UK and supports every stage of the All Age Continuing Care patient pathway, from referral and assessment through to care placement and financial review. BroadCare Solutions Limited will continue to operate under its existing management team, led by Managing Director, Umer Shariff.
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PSH is currently PTF’s largest holding. Concurrently with PSH completing its acquisition of BroadCare Solutions Limited, PTF made an additional investment in PSH, injecting additional cash and converting its outstanding promissory note from PSH into PSH equity. Prior to this additional investment, PTF held approximately 87.7% of the outstanding equity of PSH, and PTF now holds approximately 94.6% of the outstanding equity of PSH. The cost base of PTF’s total investment in PSH is now approximately $20 million.
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At Pender Growth Fund, we continue to see significant long-term value in PSH’s strategy of acquiring and growing software businesses for the long term. PTF’s increased equity stake reflects our continued conviction in PSH’s business model and in the quality of its expanding portfolio of software companies. The BroadCare acquisition adds a well-established, mission-critical software platform with deep customer relationships and a strong recurring revenue profile, characteristics we look for in PSH’s investments.
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This is PSH’s third acquisition. Last year, PSH generated approximately $13 million of revenue with EBITDA margins greater than 30%. Following this acquisition, PSH expects to generate pro forma revenue in excess of $20 million while maintaining similar EBITDA margins.
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About Pender Growth Fund Inc.
Pender Growth Fund’s objective is to achieve long-term capital appreciation for its investors. The Company utilizes its small capital base and long-term horizon to invest in unique situations, primarily small cap, special situations, and illiquid public and private companies. The Company trades on the TSX Venture Exchange under the symbol “PTF”. The Company posts its Reporting NAV on its website, generally within five business days of each month end.
Please visit www.pendergrowthfund.com.
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About Pender Software Holdings Ltd.
PSH is a Vancouver-based investment firm dedicated to acquiring and growing software businesses for the long term. PSH partners with portfolio companies by providing strategic support and growth capital, while empowering management teams to retain operational autonomy. Backed by Pender Growth Fund (TSXV: PTF), PSH invests with permanent capital to provide a lasting home for software companies. For additional information, please visit www.pendersoftwareholdings.com.
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