The telehealth market is gaining prominence despite the Covid-19 pandemic pushing economies into a global recession. It is clear that the current pandemic is acting as a catalyst to speed up the adoption of remote medical services and consultations by doctors and patients.
It seems that medtech companies are now capitalising on the situation by driving investments in healthcare providers to integrate technology and medicine—which is highly significant in light of the ongoing circumstances. For example, IW Capital invested £2 million in GPDQ to further develop the UK healthcare sector on the back of rising patient demand during this time.
Against this background, Paul Roberts, CEO of GPDQ, said, “This £2 million Series A investment will bolster GPDQ’s ability to deliver at scale as it supports the NHS, employers, and insurers in getting the UK safely back to normality in the wake of Covid-19.”
GPDQ offers CQC-certified primary healthcare services with a deep focus to meet patient demand in the UK. “We set out five years ago with a vision to build a more sustainable healthcare system in the UK by working with the National Healthcare System, employers, and insurers to deliver more care closer to patients out in the community. We’ve worked hard to build a community of clinicians who believe passionately in the ability of technology and new ways of working to achieve that goal. Whether the route to connect is through a visit, in clinic or over video, the personal interaction between doctor and patient is at the heart of everything we do,” Roberts said.
The company seeks to use IW Capital’s investment to strengthen its position in the market by closely working with the UK’s National Health System, insurers, and employers. The work of GDPQ is quite pronounced as it connects a well developed network of clinicians with thousands of patients. This is achieved through home and in-clinic visits.
“Remobilising the workforce following lockdown will be an enormous challenge for all employers, and our market leading solution provides the necessary clinical guidance and support for them to do that. Meanwhile our community visiting services will ensure that those most at risk, including those in care homes are not left behind and forgotten,” he explained.
The role played by Covid-19 in national and global healthcare is unmistakeable and should be leveraged properly to build a sustainable healthcare provision for the future. Luke Davis, chief executive of IW Capital, said, “The investment also shows the importance of private investors in growing businesses that can have an impact on national and global issues such as Covid-19. As investment providers we have a duty to offer these opportunities to investors but also to make sure that innovative SMEs get the funding required to grow.”