Mike Adams has relinquished the title of chief executive of Octopus Healthcare and is now chairman of the investment firm.

He is replaced as chief executive by Benjamin Davis, who has been at Octopus since 2010 in various senior roles.

Octopus Healthcare was created in 2014 by the acquisition of MedicX Group, the administrator of the MedicX Fund, by Octopus Investments from Cabot Square Capital.

Adams (pictured), who headed up MedicX, came over to Octopus Healthcare as part of the deal.

Octopus Healthcare invests in care homes, retirement villages, specialist care, private hospitals and primary care.