RwHealth has raised around £6.1million ($8.4million) in funding and is aiming to use the money to help tackle the NHS backlog caused by the Covid pandemic.
As a supplier of artificial intelligence provider for the NHS, RwHealth is planning to use its technology to support the healthcare service with bed shortages over the winter period.
During the pandemic, RwHealth worked with hospitals in the UK to anticipate demand and combat bed shortages. This new funding round will help support UK and US partners to increase efficiency, save money and deliver optimised clinical outcomes quickly in a post-pandemic environment.
During the pandemic thousands of appointments were delayed or cancelled while the NHS tackled the devastating impact of Covid. Technology is being touted as the key to tackling the NHS backlog, so RwHealth’s AI tech has an important role to play.
By using RwHealth’s analytical capabilities, healthcare providers are able to make predictions, model treatment options and improve safety and enhance efficiency. Combined these help to deliver improved patient outcomes and experiences. Additionally it will help to advance clinical research.
Orlando Agrippa, CEO and founder of RwHealth, said: “As we continue to accelerate and invest in the ethical use of clinical research data to advance new medicines for patient care, this funding gives us the capital needed to carry out our immediate plans while delivering AI solutions which will help futureproof our NHS.
“The raise will support our work with UK and US healthcare partners, helping us to provide deeper clinical care technologies, while supporting post-pandemic recovery efforts with our AI Data Science Platform.”
The Series A funding was led by Maven VC and Guiness Asset Management.
Alexander Sleigh, investment director at Maven VC, added: “RwHealth is at the forefront of the drive to use real world evidence and predictive analytics more effectively in the healthcare and pharma sectors – ultimately, this will enable better patient outcomes and will be more vital than ever in the post pandemic era.
“The company has seen significant commercial growth through its blue-chip customer base which includes NHS Trusts and large pharma companies and is now poised to scale up internationally. We are delighted to be able to support the company’s next phase of growth through this investment via a number of our funds and co-investment partners.”