Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
iStock 1281724540
iStock 1281724540

YFM leads £10M investment into Healthtech company DrDoctor


 

 

  • YFM has led a £10m investment into healthtech company DrDoctor along with Ananda Impact Ventures and 24 Haymarket
  • DrDoctor’s digital engagement solution links patients and clinicians driving a better experience and efficiency

 

YFM Equity Partners (“YFM”), Ananda Impact Ventures and 24 Haymarket today announce the completion of a £10 million funding round into the leading patient engagement platform in the UK, DrDoctor.

The company provides digital care solutions to increase communication and engagement between patients and clinicians, managing 25% of NHS outpatient appointments. This is primarily via patient-led booking, waitlist management and digital access to clinicians, improving provider productivity and helping the NHS tackle the backlog of patients. In a world where the demands on healthcare are increasing, with more people needing care every day, services are under more pressure than ever. DrDoctor’s  patient engagement solutions give over 19 million patients better access to care, whilst supporting clinicians in addressing the inherent system inefficiencies across the healthcare system.

The solution not only enables better experiences between patients and clinicians by activating patients in their care journey, but also drives efficiencies by reducing the number of missed appointments and decreasing administrative costs, demonstrating a return on investment from its customers. This includes over 40 NHS partner trusts, supporting over 70 million NHS appointments to date.

For DrDoctor, the future of healthcare is personalised, being delivered online and at home where possible, with empowered patients at the centre of the system.

Following the Series A in 2020, this funding round will allow DrDoctor to further expand the sales and development teams, make greater investment in the product and continue to scale across the NHS.

Tom Whicher, Co-Founder and CEO of DrDoctor, said: “If personalised care is to become an NHS-wide reality, there needs to be a fundamental shift in the way we approach healthcare. We see this latest support from our investors as confirmation of our role as a key enabler for these necessary changes.

We’ve already proven how a digital-first approach can have a profound effect on productivity, evidenced by our substantial footprint in the NHS. Thanks to this latest investment, we are moving forward with some incredibly exciting projects, accelerating our journey to delivering truly modern healthcare.”

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Helen Villiers, Investment Director at YFM Equity Partners, said: “Today the healthcare service and the NHS is under supreme amounts of pressure. Coming off the back of a global pandemic and with more than seven million people on a hospital waiting list in England, patients and clinicians alike are in need of solutions such as DrDoctor’s more than ever. DrDoctor helps healthcare systems meet this demand, without sacrificing patient care quality.

The company has demonstrated exciting growth and we have been really impressed with the team and their deep domain knowledge. The company have a well-defined plan to ensure they continue on this trajectory – we are looking forward to working with them to help them reach their goals.”

Zoe Peden, Partner at Ananda Impact Ventures said: “The COVID-19 pandemic has highlighted the potential of digital health solutions and healthcare communities to innovate and work towards a common goal. DrDoctor’s patient engagement platform is helping clinicians across the UK make data-driven decisions and enabling millions of patients to self-book appointments.

By using digital Patient Initiated Follow Up (PIFU), healthcare trusts have reduced backlogs by up to 30% and improved staff and patient experiences.


We are proud to support DrDoctor’s mission to revolutionise the way hospitals communicate with their patients. Their progress has been extraordinary and we look forward to seeing them continue to make healthcare better for everyone.”

Alexandra Brown, Investment Executive at 24 Haymarket, said: “Our original 2020 thesis that the NHS would soon become over-extended, is now an everyday reality.  Compounded with severe staff shortages and an ageing population, there is a greater acceptance that digital technology is a required part of the solution. Through its active participation in national projects and impactful work alongside NHS trusts, DrDoctor’s patient engagement platform has transformed how patients across the UK engage with their health journey, simultaneously improving the patient experience and driving volume efficiencies.

Having worked with the DrDoctor team closely over the period of two years, we are confident in their long-term vision, commercial mindset and ability to deliver. Leadership has successfully built a customer-centric organization with passionate people at all levels, and 24Haymarket is proud to support the Company in its plans for growth. We are excited to work alongside YFM in this next stage of development and look forward to welcoming them to the board.  

The YFM team included: Helen Villiers, Zach Francis and Jamie Roberts

 

YFM and the management team were advised by Legal: Eversheds Sutherland; Financial: Pegafund; Organisational: Human Matters; Commercial: Candesic; Technical: Philipps & Byrne; VCT Advice: Philip Hare & Associates.

 

Recent Post: