Last year, ICMIF member Simplyhealth (UK) announced the launch of its Venture Capital fund, Simplyhealth Ventures and so far this year, it has shared details of the first two investments for 2023.
Last month, Simplyhealth announced it had 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.
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 GBP 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.
Nick Potter, Acting CEO, Simplyhealth said: “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.”
In 2022, Simplyhealth Ventures invested in three innovative HealthTech start-ups. The fund took a majority stake in Ocuplan, a leading provider of plans in the UK 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.
Established in 1872, Simplyhealth is one of the UK’s leading health solutions businesses. Over the past 150 years it has built a solid reputation and dedicated community, offering affordable, personal and corporate health plans. To find out more, click here.
