HK Conglomerate Backs British Healthtech Startup
Healthtech fundraising may have been a little quiet this month, but that doesn’t mean there hasn’t been some big ones going on in the background.
According to their website, British healthtech AI startup Medopad has scored $28 million for the first close of its Series A round. It plans to raise $120 million over the next few months through equity capital.
Hong Kong-based conglomerate NWS Holdings participated in the round, and so did a band of family offices and institutional investors. UBS acted as the exclusive financial adviser.
NWS Holdings operates several infrastructure and service businesses in Mainland China, Hong Kong, and Macau. Its infrastructure division develops roads, energy, water, and ports projects, while its service division encompasses facilities management, finance, and transportation. Together with its parent company Chow Tai Fook Enterprises, it owns and operates two of Hong Kong’s major bus lines.
As for Medopad:
Medopad’s healthcare technology data-capture platform connects patients and healthcare professionals in real time. Medopad enables patients to continuously capture data through a broad set of modules and connected devices (e.g. smartphones, smart watches, smart asthma inhalers) and transmit the collected data to healthcare professionals.
By improving the communication between patients and healthcare professionals, Medopad enables proactive early intervention, generates operational efficiencies and ultimately drives significant cost savings. Medopad is able to use its AI / Machine Learning capabilities to analyse the large amounts of data collected and develop predictive insights to detect life-threatening medical conditions.
And here’s what its CEO, Dan Vahdat, had to say:
“We now have several amazing strategic investors in the business, which is a great achievement for us as we gear for significant growth and scale our business. Managing population health is one of the greatest challenges for governments across the world. As such, the investment appetite for solutions that address and manage this concern is substantial. We are proud to be at the forefront of solving this problem and supporting people around the world.”
“We will be opening a number of offices across the world and hiring the most talented people as we grow our regional partnerships. Our mission at Medopad is to help patients suffering from the most complicated diseases receive better care and live longer and healthier lives with their loved ones.”
Photo: Nguyen Hung Vu