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Healthcare technology firm gets PS400,000.

Byline: Sion Barry Business editor

HEALTHCARE technology start-up Signum Health has been boosted by a six-figure equity investment that will support its growth plans.

The Caerphilly-based business has secured a PS400,000 equity investment which was led by the Development Bank of Wales, with further investment obtained from private investors.

This is the second round of investment the company has raised and brings its total fundraising to PS600,000.

Launched in 2016, Signum Health uses artificial intelligence and cloudbased technology to deliver remote healthcare and support within local communities.

As a result its goal is to enable patients, healthcare providers such as pharmacies, GPs and other alternative services to work more efficiently in sharing health information in a way that benefits everyone.

The company is headed up by primary care and public health expert Victoria Norman, who has first-hand experience of the challenges facing GP surgeries trying to meet the needs of their patients while facing reduced funding and declining numbers of GPs.

The company has also appointed former CEO of Imperial College NHS Trust and founder of the first Academic Health Science Centre in the UK, Professor Stephen Smith, as its chairman.

Prof Smith has served on numerous committees for organisations such as the UK's Medical Research Council, the World Health Organization, the National Institutes of Health (USA), the National Health Service (NHS), the British Heart Foundation and the Wellcome Trust.

Chief executive Ms Norman said: "This latest round of investment will help us to take Signum Health to the next stage of its development. We are already helping GPs' surgeries around the UK and we can't wait to see Signum Health used in every surgery in the country.

"Having someone with the experience of Professor Smith coming on board as our chairman is further validation that Signum Health is innovating in this field and is a muchneeded service for the NHS. We are thrilled to welcome him as part of the Signum Health team."

Dr Philip Barnes, technology ventures investment executive of Development Bank Wales, said: "Signum Health has a highly talented management team with exciting plans for scaling their innovative digital health business across multiple sectors. We're pleased to continue backing this high-growth company in their second equity funding round."

On the firm's technology, Ms Norman said: "With a shortfall in the number of general practitioners, an ageing population and increasing financial constraints, health and social care organisations are under severe pressure.

"We have identified that the sector would benefit from digital technology to create efficiencies, financial savings and ultimately better care for patients.

"Signum Health provides this exact support through its digital services, alongside and integrated with traditional services, so people can take control of their own health, access care quickly and effectively, whilst allowing the healthcare workforce to be used in a more prudent way."

Signum Health currently employs seven people, but is looking forward to expanding its team in the future.


Chief executive of Signum Health Victoria Norman

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Title Annotation:Business
Publication:Western Mail (Cardiff, Wales)
Geographic Code:4EUUK
Date:Feb 1, 2018
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