Digital Healthcare raises further £2.6million funding.
Digital Healthcare today announced the acquisition of a further
£2.6million in funding from its venture capital backers to fund
expansion of its core products and services in its existing markets
and to broaden the Company's International presence.
Alliance Trust, a British investment firm, led this third round of
funding from existing investors. YFM Private Equity and the Noble
Group, both also based in Great Britain, and Paris-based Elaia
Partners joined in the round. The Company has raised nearly £7.2
million to date.
John Morrison, Director of Alliance Trust Equity Partners, commented
"The problems that Digital Healthcare's products address are clearly
global ones, we're looking for the company to grow and develop and
become a major international player."
Mike White, Investment Director YFM Group says "As the original
backers of Digital Healthcare, YFM has seen the business develop to
become the leading provider of diabetic screening software to the
National Health Service. Following its success in the UK, the
company is now rapidly building a position in the emerging and much
larger US diabetic retinopathy screening market. With a world class
management team and software to match, we are confident that Digital
Healthcare has a very bright future ahead."
Digital Healthcare provides software and related services for very
large scale population eye screening and technology to manage
information and images in clinical ophthalmology. In the UK care of
over 1million diabetic patients is managed using Digital
Healthcare's OptoMize product with 39 regional Diabetic Retinal
Screening Schemes providing screening to their patient populations
to detect early and previously undiagnosed signs of diabetic
retinopathy and other causes of blindness.
In the US the Company's Retasure service to detect signs of
retinopathy in diabetic patients is used by nearly 900 physicians in
19 states. Digital Healthcare's OcuLab product is used by some of
the World's leading Ophthalmology Departments, including The Wilmer
Institute in Baltimore MD, to integrate clinical instruments and
distribute information across their institutions.
Digital Healthcare's award winning products are built on Microsoft's
.Net and SQL Server technologies delivering powerful, scalable
functionality in a secure and future proof environment.
This additional funding from the existing investors will allow
Digital Healthcare to capitalize on its core product functionality
and platform flexibility to position itself for the delivery of
services used in the screening and diagnosis of other major
conditions.
Mike O'Leary, Chief Executive of Digital Healthcare, commented "The
Company's success to date in developing functionally rich software
solutions based on leading edge Microsoft technology has been proven
by the many implementations that we have. This additional investment
will allow us to grow and develop into other territories and sectors
of the healthcare market internationally"
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Media enquiries: Steve Butcher t. +44 (0) 1954 207 306
steve.butcher@digital-healthcare.com