Virtual Healthcare Provider Medefer Raises $13 Million

Medefer, a Care Quality Commission (CQC) registered virtual healthcare provider, raised £10 million (~$13 million) in a funding round led by Nickleby Capital, an investment firm.

Founded in 2013, by NHS consultants Dr. Bahman Nedjat-Shokouhi (the CEO) and Dr. Andrew Millar, and launched the following year, Medefer is a CQC regulated healthcare provider that has developed a digital platform that connects GPs, consultants, and patients, to deliver a more efficient outpatient system.

The platform claims to manage the patient pathway – from referral to triage to an investigation, diagnosis, and discharge without physical outpatient appointments. It has helped over 20,000 NHS patients to date, according to the company.

“Our digital platform removes inefficiencies and duplication, resulting in a significantly streamlined and faster pathway,” said Nedjat-Shokouhi. “Furthermore, we enable NHS consultants to work in their own time. This provides additional clinical capacity back into the NHS that would have otherwise not been utilized.”

Medefer plans to use the new funds to invest in people and technology to service new contracts, enable new product development, and ensure scalable growth from its pipeline.

“The outpatient model has not changed since before the inception of the NHS, and has significant inefficiencies,” said Nedjat-Shokouhi. “With increasing patient numbers, the inefficiencies have resulted in growing waiting lists, and of course, this has been significantly worsened by the pandemic.”

Telehealth companies raised almost $2 billion in the first half of 2020, according to the Mercom latest report. Recently, Grand Rounds, a healthcare navigation and expert medical opinion solutions provider, secured a $175 million funding round led by investment funds affiliated with The Carlyle Group. Hazel Health, a telemedicine startup, raised $33.5 million in a Series C funding, led by Owl Ventures and Bain Capital Ventures, with additional funding by Uprising, UCSF Foundation Investment Company, and Centene Corporation.

Learn more about other telehealth funding deals.

Image Credit: Medefer