Bristol-based remote patient monitoring platform, Wanda Health has secured £1.09 million in funding through its latest investment round, aiming to accelerate their growth and commercial performance within the US.
The digital platform is said to support patients with congestive heart failure, chronic disease and comorbidities, acute diseases, chronic obstructive pulmonary diseases and those who need cardiac rehabilitation.
With this new round of investment, Wanda Health plans to “accelerate growth in response to inbound commercial interest” from the US, following their previous efforts in this area where they partnered with the COPD Foundation and the American Heart Association.
In the first half of the year, Wanda closed a new contract with Sav-Rx, a pharmacy benefits manager serving a network of over 65,000 pharmacies across the US. The company also onboarded a group of assisted living facilities across California, said to be a new use case for the supplier.
The investment “follows a period of strong and accelerating commercial performance” the company said, allowing them to continue their progress towards FDA approval. The funding package is made up of a £250,000 loan and an £834,000 investment, awarded through the UK’s enterprise investment scheme, convertible loan agreement conversions and a debt facility.
“With the new funding in place and key partnerships progressing well, we are now scaling our impact across the US,” Tom Smith, chief executive officer of Wanda Health, said. “With the additional capital, we are well positioned to capitalise on the growing opportunities in the rapidly expanding digital remote monitoring market and to move closer to our mission of delivering the best-in-class intelligent virtual care.”
Accelerating growth across health and care
The UK government recently published its Cyber Growth Action Plan, aiming to support innovation across the cyber sector. It outlines up to £16 million in funding to help commercialise cyber research, with the University of Bristol and Imperial College London’s Centre for Sectoral Economic Performance exploring the UK’s cyber sector and offering a roadmap for future growth. The government has noted that “this will culminate with a set of recommendations later this summer”.
Digital healthcare platform, Numan has raised £45 million in Series B funding to support the company’s continued growth and expansion into wider international markets.
In April, health tech company, Skin Analytics announced that they have raised £15 million in Series B funding to increase their product offering and expand overseas into “key markets struggling with dermatologist shortages”. Led by AI-focused investor, Intrepid Growth Partners, the funding is primarily being used to “launch products that cover all dermatology concerns”. It will also help Skin Analytics to increase their reach to Europe, Australia and the US, with the aim to make their products available globally as a way to tackle the worldwide “scarcity of practitioners” in dermatology.
