Quiddity Health, the UK-based health tech consultancy service, has announced it will be ending its services after five years of operation, citing delayed revenue and slow new business across the VC and health tech market as the main reason behind this decision.
The announcement was made on LinkedIn by founder and CEO of Quiddity Health, Gavin Matthews, who shared that “lost contracts and slower than expected new business” have all led to the closure of the company, despite seeing “30%-40% compound growth” throughout 2024. “The circumstances and decisions evolved quickly and the process we are following now is also quick, to minimise the length of uncertainty and impact on staff and customers,” Gavin said.
Quiddity Health was created with the aim of transforming the NHS through “sustainable, patient-centric technology”, having supported the commercialisation of “almost 100 health innovations”, according to Gavin. He noted that continued uncertainties around the UK healthcare sector and funding have created a “volatile environment for health tech startups,” adding that the company was “too susceptible to this volatility”.
Quiddity Health’s closure comes shortly after the recent publication of the government’s new 10 Year Health Plan, which outlines ambitions to support digital innovation and transformation within the NHS, as a way to help drive healthcare reform. However, the plan also highlights key barriers to innovation, such as a lack of direction on strategic aims, the NHS’s reputation as “a poor and unwilling partner” and a lack of incentives for innovation.
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