Medefer raises £10m to expand virtual NHS outpatient services
Led by Nickleby Capital, funds will be used to fuel growth of service created ‘from the NHS for the NHS’ and drastically reduce patient waiting times
[London, Monday 14th September]: 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 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 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, 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.”
Medefer is an innovative CQC-registered virtual healthcare provider, focused on specialist care, that aims to completely reframe the way healthcare is delivered by empowering providers to deliver the best – timely, efficient and effective – care for patients. Medefer was founded in 2013 by Dr Bahman Nedjat-Shokouhi and Dr Andrew Millar, both consultants working in the NHS. Whilst patients are at the heart of everything they do, Medefer’s unique platform and innovative approach enables it to deliver unrivalled, empowering solutions for healthcare providers.
Medefer’s virtual hospital is designed to deal with the limitations of scaling more traditional advice and guidance services. It allows GPs to refer in the same way, but reduces workload of primary care workers. It is the first ever virtual outpatient service to be CQC-rated as good in all five areas of safe, effective, caring, responsive and well-led. To find out more please visit https://www.medefer.com/
About Nickleby Capital
Nickleby Capital is a private investment company providing capital and expertise to accelerate growth in high potential companies. As specialists in alternative investments for experience investors, Nickleby partners with exceptional management teams to transform rapidly growing businesses into category-defining industry leaders.