Safety and compliance technology provider Radar Healthcare has closed a £9.0m funding round to support business growth in the UK and abroad. The funding round was led by 24Haymarket and follows on from Radar Healthcare’s exponential growth in the UK market. The funds will be used to support product development and increase customer support.

Radar Healthcare’s software helps to reduce risk across the whole healthcare spectrum, from primary and secondary care, through to residential care and dentistry. It is a single integrated solution for operational and frontline staff to manage risk, quality and compliance. The platform uses artificial intelligence to analyse incidents and detect trends, proactively managing risks.

The funding will also be used to support innovation projects. For example, Radar Healthcare is developing its Internet of Things (IoT) and data driven event functionality which will allow connected devices and wearable technology to feed into the platform, tracking users’ conditions and the surrounding environment. The software will pull in multiple data points to drive much needed insights, delivering huge benefits to healthcare providers.

Paul Johnson, CEO of Radar Healthcare said: “We are proud of what we’ve achieved so far in just a few years – we’re already the market leader. We have partnered with a variety of NHS trusts and care providers, including supporting Milton Keynes University Hospitals NHS Trust to become the first trust to roll out the new NHS Learn from Patient Safety Events. This will record patient incidents so the data can be used to improve patient safety across the whole healthcare industry. Our platform frees up healthcare providers to focus on caring, not paperwork – enabling a proactive approach to patient and resident care.

“This investment will help us really accelerate the growth we’ve seen so far, while looking at new markets. More than this, it will enable development of the Radar Healthcare platform so we can look at preventative care before patients even reach healthcare settings. This will be more important than ever as the NHS welcomes Integrated Care Systems.”

Stuart Fletcher, former CEO of Bupa and 24Haymarket’s Investor Director, added: “Radar Healthcare has consistently delivered since we first invested five years ago, so leading this round of investment was an easy decision for us to make.

“They have an enviable portfolio of customers, and this is an exciting and growing market. We are looking forward to seeing where Radar Healthcare goes next, and are pleased to be part of it.”

24Haymarket is an existing investor in Radar Healthcare, having led three previous funding rounds since 2017. This round takes 24Haymarket to a majority ownership position.

Notes to Editors

About Radar Healthcare

Radar Healthcare was founded by technology experts Paul Johnson and Lee Williams in 2012 in response to the changing regulatory landscape with a vision to support better healthcare outcomes while instilling a culture of continuous improvement.

The platform has been developed in partnership with healthcare professionals to ensure organisations always meet regulatory standards through one single, easy to use system.

Radar Healthcare’s forward-thinking approach offers a one system solution for a vast array of business needs including:

• Regulatory compliance
• Communication and collaboration
• Governance and assurance
• Quality improvement
• Safety and outcomes
• Continuous improvement
• Operational performance
• Brand protection

Radar Healthcare is one of the most established quality and compliance software solutions available to health and social care organisations across the UK and internationally.

About 24Haymarket

24Haymarket is a private capital firm focused on disruptive early-stage venture and growth equity investments in the UK, investing up to £5m in a transaction. Our Investor Network includes 100+ senior business leaders combining 3,000+ years of business experience with Director-level experience in companies worth a collective £700 billion. We invested aligned, patient capital in partnership with outstanding entrepreneurs to build the UK’s industrial leaders of the future. For more information, please visit: www.24haymarket.com

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