eConsult Health attracts £7m new investment
- eConsult Health is the leading online consultation provider to the NHS for primary care
- With considerable growth over the last year the platform is now live in over 3,200 NHS GP practices and gives millions of patients access to their own GP online.
- The funding round will be used to accelerate growth in primary care and support the rollout into the secondary care market.
LONDON 4th FEBRUARY 2021: Calculus Capital, a leading EIS and VCT institutional investor, has participated in a £7 million new investment round led by Gresham House Ventures, a growth equity investor, alongside existing shareholders.
eConsult works as a digital gateway to a GP practice, allowing clinicians to determine the right care pathway more efficiently for patients, benefiting the GP practices by releasing capacity and reducing costs. eConsult is driven by a proprietary, clinician led bank of 10,000+ questions produced using evidence-based medicine, NICE guidance, Clinical Knowledge Summaries and NHS.UK sources. It efficiently records patient details, case history, symptoms, and provides them to the GP in a concise format where they are processed in 2-3 minutes. Research shows that 70% of requests are closed without the need for a face-to-face appointment.
Rapid adoption of eConsult’s solution has been aided by the introduction of centralised government funding for online consultation in 2016 and more recently the COVID-19 pandemic has dramatically increased the need for digital triage systems leading to an acceleration in uptake.
As well as continuing to support the dominant position in NHS primary care, the investment will support the rollout of the Company’s Urgent and Emergency Care tool, eTriage, and outpatient triage tool, eSpecialist. eTriage is designed to automatically check-in and prioritise patients upon arrival to an Emergency Department, identifying sick patients earlier, reducing the waiting time and ensuring that any red flags are immediately re-directed to the appropriate emergency care. eConsult is also advancing with its additional product, eSpecialist, which is intended to improve the efficiency of outpatient appointments and allow a joined-up service through primary and secondary care.
Dr Murray Ellender, CEO of eConsult Health, commented:
eConsult Health“This funding will help us keep pace with the product development we need to support cutting edge health technology across both primary and secondary care. NHS patients deserve an excellent digital experience when interacting with the health service and we now look forward to delivering the transformation needed.”
Henry Alty, Investment Director at Gresham House Ventures said:
“At such a crucial moment for healthcare provision, funding the right businesses in this space is more important than ever. The eConsult platform has already proven the power of its clinically led technology, as the most widely used digital consultation solution and the first choice for NHS GP surgeries.”
Richard Moore, Investment Director at Calculus Capital said:
“eConsult are revolutionising healthcare provision in GP practices, and we are excited by their potential to expand into secondary care. Calculus are delighted to be supporting this impressive management team who are passionate about improving the service provided to NHS patients.”
About eConsult Health
eConsult Health Limited provides the most widely used digital triage systems in the NHS covering both primary and secondary care. The company’s platforms include:
- eConsult – An award-winning online consultation platform for primary care
- eTriage – A platform for NHS Emergency Departments and Urgent Treatment Centres designed to automatically check-in and prioritise patients upon arrival
- eSpecialist – A newly developed solution for outpatient care to ensure clinicians have the right information to be able to diagnose, manage and treat patients at the earliest point
All of eConsult Health’s platforms are developed by NHS clinicians and overseen by the company’s award-winning Clinical Governance Board to enable safe and effective triage and ensure patients receive the right healthcare at the right time.
Find out more at www.econsult.net/
Calculus is a multi-award-winning fund manager. It launched the UK’s first approved EIS fund in 1999 and has a 21-year track record of investing in UK growth companies, supporting their growth, development, scale-up and exit. It manages the multi-sector Calculus EIS Fund and Calculus VCT, as well as the Calculus Creative Content EIS Fund, which was launched in association with the BFI to deliver vital equity funding to the UK’s most promising content creation companies
Calculus Capital is authorised and regulated by the Financial Conduct Authority. www.calculuscapital.com
About Gresham House and Gresham House Ventures | www.greshamhouseventures.com
Gresham House Ventures is a growth equity investor specialised in scaling businesses with business models driven by technology, customer insight or service excellence. Gresham House Ventures aims to work with ambitious management teams who want the support of a flexible long-term investor who brings capital, insight and expertise. The team has been working together for over 10 years and has made over 100 investments into growth businesses. Gresham House Asset Management is the FCA authorised operating business of Gresham House plc, a London Stock Exchange quoted specialist alternative asset manager. Gresham House is committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions.