Simplyhealth Ventures makes first investments of 2023
Last year, Simplyhealth announced the launch of its Venture Capital fund, ‘Simplyhealth Ventures’ and today it shares the first two investments for 2023.
This week, Simplyhealth announced it has invested in PocDoc, an app-based technology platform that uses proprietary lateral flow tests and cloud-based AI diagnostics to deliver fully quantified results in minutes. The Cambridge-based digital health platform also offers in-app risk assessment and follow-on treatment for major diseases – focusing initially on cardiovascular disease, where access to testing is a major problem. There are currently 7.6 million people living with heart or circulatory disease in the UK, and these conditions are responsible for one in four deaths each year. [1]
Earlier this year Simplyhealth invested in digital health app, Peppy, that supports menopause, fertility, men's health and women's health.
Founded in London in 2018, Peppy connects people to real, human experts, helping them take control of their health. Focusing on a corporate customer base, Peppy provides services for underserved areas of health, including menopause, fertility, pregnancy and early parenthood.
Simplyhealth Ventures will invest £60 million in UK-focused, early-stage healthcare businesses to accelerate the development and adoption of predictive and preventative healthcare solutions. These investments will support Simplyhealth’s overriding purpose to improve access to healthcare for all in the UK.
Through the Venture Capital fund, we aim to address challenges in the UK healthcare system. Making it quicker and simpler to access diagnostic testing at home aligns perfectly to our purpose of improving access to healthcare for all in the UK. PocDoc does exactly that. We are proud to join Steve and his team, as well as our fellow investors, at this stage of the company’s evolution. Through investing in digital healthcare companies, such as PocDoc, we can help revolutionise the provision of predictive and preventative services across the changing healthcare landscape in the coming years.
Nick Potter, acting CEO at Simplyhealth
In 2022, Simplyhealth Ventures invested in three innovative HealthTech start-ups. The fund took a majority stake in Ocuplan, the country’s leading provider of plans to support those with chronic eye conditions. This was followed by an investment in Ampersand, a digital therapeutics platform for chronic inflammatory conditions. Towards the end of the year, the fund made an investment in Daye, a female founded gynaecological health company on a mission to raise standards in women’s health and to close the gender gap in medical research and innovation by creating convenient products and services for period pain, at-home STI testing and the treatment of vaginal infections.
[1] https://www.bhf.org.uk/what-we-do/news-from-the-bhf/contact-the-press-office/facts-and-figures
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