Signum Health, a pioneering digital start-up based in Caerphilly, has successfully secured £400,000 in an equity co-investment led by the Development Bank of Wales. With further backing from private investors, this funding brings the total investment in Signum Health to an impressive £600,000.
Founded in 2016, Signum Health leverages artificial intelligence and cloud-based technology to deliver remote healthcare and support within local communities. The recent investment marks a significant milestone for the company on its path to revolutionise healthcare.
Signum Health’s Vision and Growth
Signum Health’s mission is to use digital technology to improve the efficiency of healthcare delivery. By integrating cloud-based diagnostic and community referral tools with existing health and social care IT systems, the company aims to help healthcare providers share health information more effectively and provide better care for patients.
According to CEO Victoria Norman, “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.”
Leadership and Expertise
In a strategic move, Signum Health has appointed Professor Stephen Smith FMedSci as its Chairman. With a rich background including serving as the former CEO of Imperial College NHS Trust and founding the first Academic Health Science Centre in the UK, Professor Smith’s experience brings significant validation to the company.
“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 much-needed service for the NHS,” said Norman.
The Need for Digital Solutions
The healthcare sector is under severe pressure due to a shortfall in the number of General Practitioners, an aging population, and increasing financial constraints. Signum Health identified that the sector would benefit from digital technology to create efficiencies and financial savings.
Norman stated, “We have identified that the sector would benefit from digital technology to create efficiencies, financial savings and ultimately better care for patients.”
Signum Health’s digital services are designed to support and integrate with traditional services, enabling people to take control of their own health and access care quickly and effectively.
Innovative Platforms
Research has shown that over 20 per cent of patients visiting their GP require help from local community services rather than clinical treatment. Signum Health’s Social Prescribing Platform allows GPs and healthcare professionals to refer patients to non-clinical services across various sectors.
The company’s diagnostic platform assists GPs with remote assessment, triage, and diagnosis, including services such as Teledermatology. This innovative platform has enabled consultant dermatologists to assess and diagnose skin conditions within two days of receiving a referral from a GP, saving the NHS money and providing convenience for patients.
Impact on the Healthcare Sector
The introduction of Signum Health’s platforms has proven to be a game-changer. It offers a more efficient way for healthcare providers to manage resources and address patient needs effectively. The integration of these platforms with existing IT systems ensures seamless communication and better patient outcomes.
By providing tools that streamline processes and improve access to care, Signum Health is supporting the healthcare workforce in delivering high-quality care. It addresses the growing demands on healthcare services, especially in times of resource constraints.
Future Prospects
With the new investment, Signum Health is poised for further growth and innovation. The company plans to expand its services and reach, ultimately aiming to have their technology utilised in every GP surgery across the country.
The company’s continuous development and implementation of advanced health tech solutions position them as a leader in the digital healthcare space. Their forward-thinking approach helps meet the dynamic needs of the healthcare industry.
Conclusion
In summary, Signum Health’s recent £400,000 investment is a significant step forward in their mission to revolutionise healthcare through digital technology. With visionary leadership, innovative platforms, and a strong focus on efficiency and patient care, the company is well-positioned to address current and future challenges in the healthcare sector.
The £400,000 investment into Signum Health is not just a financial boost but a testament to the company’s potential to transform healthcare delivery. With a clear vision, cutting-edge technology, and strong leadership, Signum Health is set to make a lasting impact on the healthcare industry.
As the company continues to grow and innovate, it holds the promise of improved healthcare efficiencies and better patient outcomes, ultimately benefiting the entire healthcare ecosystem.