In our latest corporate deal, we have advised a leading health-tech firm on raising £2m to expand the use of its clinician app.
Advanced Digital Innovation (ADI) help patients communicate with clinicians remotely using the MyPathway app, as demand continues to increase throughout the pandemic.
The funding was raised from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, the UK government’s Future Fund and the company’s chair and founder Bob Gomersall.
David Strachan and Lucy Holroyd provided legal advice to the company on the investment.
“We were really pleased to support ADI on its second round of investment from Mercia, under the Future Fund “matched funding” scheme. This is an innovative piece of technology that brings healthcare into the digital era” said Lucy, associate solicitor.
The MyPathway app, which removes the need for appointment letters and calls, allows patients to agree on care plans with clinicians, who can then monitor their progress and receive feedback.
Over 55,000 patients are now signed up to the system, which is already used in hospitals in Sheffield, the North West and Essex, and most recently has been adopted in Leeds. This follows a successful initial trial in Northern Ireland.
The investment will allow ADI to enhance the product to make it easier for patients to sign up remotely and to achieve further accreditations to extend its use in other areas of the NHS.
John Eaglesham, CEO, said: “MyPathway has really proved its worth during the lockdown.
“With routine appointments having to be cancelled, it has made it so much easier for hospitals to communicate with patients and keep track of their condition.
“The pandemic has also led to a major shift in mindset as clinicians and GPs recognise there is not always a need to see patients in person and are more open to new technology.
“Ultimately this will lead to lower costs and, since MyPathway increases feedback from patients, will allow a better evaluation of care pathways and more effective treatment.”
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