HealthTech founded by NHS consultant raises £10m
Medefer, the B2B virtual healthcare provider that is reimagining the old-fashioned outpatient system, has announced a £10m funding round led by private investment firm Nickleby Capital.
The growth funding will be used to invest in people and technology to service new contracts, enable new product development and ensure scalable and robust growth from its strong pipeline. The company, founded by NHS consultant Dr Bahman Nedjat-Shokouhi - who still works in the NHS - has been recognised as one of the top 100 most exciting digital health companies in the UK, by the DTI.
A CQC regulated healthcare provider, Medefer is a digital platform that connects GPs, consultants, and patients. Underpinned by its outpatient operating system, and a nationwide ‘grid’ of contracted remote NHS consultants, Medefer smoothly manages the entire patient pathway from referral to triage to investigation, diagnosis and discharge - without the need for physical outpatient appointments.
Having already helped over 20,000 NHS patients get faster, better care, Medefer enables improved outcomes for all parties - completely reframing the way healthcare is delivered. Patients experience improved care, with their case reviewed by NHS consultants within 10 hours on average - compared to 18 weeks using traditional models.
In addition, due to the alerts-driven digital tracking process, patients cannot fall between the tracks, which is a significant problem within the NHS. For NHS Trusts and care commissioning groups (CCGs), their outpatient costs are cut by a third, and waiting lists reduced by 70% - improving consultant capacity and creating far better use of resources.
Medefer is also perfectly positioned to help tackle the estimated 10 million patient backlog that has grown due to COVID-19, as well as helping patients with chronic conditions whose care has been interrupted with huge long term impact.
Dr Bahman Nedjat-Shokouhi, CEO of Medefer and Consultant Gastroenterologist at Whittington Hospital NHS Trust, said: “Medefer was born out of a desire to empower the NHS to deliver a radically faster, safer and more effective service from a referral, through diagnosis, to treatment and discharge. Our software can fundamentally transform the delivery of outpatient services. This funding round will enable us to support the NHS during the most challenging times in its 72-year history, and to continue to innovate in virtual specialist care.”
Marco Schiavo, Managing Partner of Nickleby Capital, said: “Medefer is a business whose time has come. They have a unique model with huge, growing, demand. They help the NHS slash waiting lists and save money, as well as improving patient outcomes. The Medefer team is outstanding and we’re very excited about working with them to help achieve their incredible vision.”