London-based virtual care provider Medefer landed £10M ($12.8M) in a funding round led by Nickleby Capital.
WHAT IT DOES
Medefer is split into three services: a healthcare provider, virtual outpatient pathway and a tech platform for doctors to conduct virtual visits. Currently the platform can deliver healthcare within the UK’s NHS system.
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The platform allows patients to see a Medefer GP or a specialist via telemedicine. The idea is that patients first come to Medefer and only patients that need to go into a hospital setting are sent to local NHS services.
According to Medefer’s model its doctors jointly handle a patient’s care along with the local NHS trust. Local hospitals can also tap into Medefer’s consultants as an on-demand resource.
One of its services, called the NHS hospitals, is a tool to let doctors see outpatients via video call instead of in person.
Additionally, according to the company, local hospital can use the Medefer platform to deliver their services.
WHAT IT’S FOR
The funds are primarily for growing the company. The startup plans to do this by investing in staff and tech services, as well as product development and contracts.
THE LARGER TREND
During the coronavirus pandemic, telehealth has seen a large surge in usage. In turn, the industry has seen some major moves from virtual health companies. Boston-based Amwell officially filed to go public in August, fueled with a $100 million investment from Google’s cloud division.
Amwell competitor Teladoc has also been looking at expansion. The publicly traded virtual care company purchased chronic care management company Livongo for a whopping $18.5 billion.
But telemedicine isn’t just growing in the U.S. In Europe, Stockholm-based KRY, known as LIVI outside the Nordics, announced a €140 million ($155 million) Series C funding round in January to expand its geographical footprint.
One of the biggest and most controversial names in virtual care in the UK is Babylon. The telehealth company has a history of working with the NHS. Its GP at Hand program serves as a patient’s primary care provider. It has also worked outside the UK, inking a 10-year deal with the Rwandan government.