In a significant move for the healthcare industry, HealthTech start-up Locum’s Nest has secured £3m in funding. The financing comes from Albion Capital, hiking their total funds to £4.1m, with backing also from IDO Investments.
Co-founded by two former NHS doctors, Nicholas Andreou and Ahmed Shahrabani, Locum’s Nest is transforming how doctors find temporary positions. The app streamlines the process by removing intermediaries traditionally involved, offering a more direct approach for hospitals and GPs seeking temporary staffing solutions. This innovative approach helps reduce costs significantly for healthcare institutions.
Locum’s Nest addresses a key issue in healthcare: dependency on recruitment agencies. With a small, one-off admin fee per filled shift, the app circumvents the high fees associated with conventional agencies. This not only eases the financial strain on hospitals but also makes the recruitment process more transparent and efficient.
The swift progress and substantial achievements of Locum’s Nest within a short timeframe underscore its potential as a game-changer in healthcare staffing. It reflects a growing trend where digital solutions are actively sought to address logistical and financial challenges in the NHS.
Albion Capital deputy managing partner, Will Fraser-Allen, emphasised the importance of technology in driving efficiency in healthcare, stating that the investment aligns with their strategy to support ventures that demonstrate significant potential for improvement in public services.
The app’s ability to cut out the middlemen not only saves costs but also reduces time lags associated with traditional recruitment methods, providing a more responsive and adaptable workforce solution.
The app’s model has set a precedent that might inspire other sectors within healthcare to explore digital solutions for operational challenges. This could lead to broader technological adoption across the board.
Locum’s Nest stands at the forefront of transforming healthcare recruitment. By securing significant funding and demonstrating impressive results, the app not only showcases its utility but also underlines the transformative power of technology in public services.
The future looks promising for Locum’s Nest as it continues to innovate and improve the dynamics of healthcare staffing. With robust support from investors, it is well-positioned to lead the way in digital health recruitment.