Medefer, a business-to-business virtual healthcare provider today announced a £10 million funding round led by private investment firm Nickleby Capital.
The company was founded by NHS consultants Dr Bahman Nedjat-Shokouhi and Dr Andrew Millar, who still works in the NHS.
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 stated that it manages the entire patient pathway from referral to triage, to investigation, diagnosis and discharge, without the need for physical outpatient appointments.
The company stated it will use the new funding to invest in people and technology to service new contracts, enable new product development and ensure scalable growth from its pipeline.
Medefer said it has already helped over 20,000 NHS patients claiming patients experience improved care, with their case reviewed by NHS consultants within 10 hours on average, compared to 18 weeks using traditional models. Medefer also said that due to its alerts-driven digital tracking process, patients cannot fall between the tracks, which is a significant problem within the NHS. It adds that for NHS trusts and clinical commissioning groups, outpatient costs are cut by a third, and waiting lists reduced by 70%, improving consultant capacity and creating far better use of resources.
Nedjat-Shokouhi, chief executive 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 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 its most challenging times in its 72-year history, and to continue to innovate in virtual specialist care.”
Marco Schiavo, managing partner at 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.”
Date published: September 14, 2020