Wanda Health, the intelligent platform for Remote Patient Monitoring (‘RPM’) and Virtual Care, announced it has closed a £1 million equity investment round. The EIS investment round was led by EMV Capital Partners Ltd.
The funding will be used to accelerate Wanda’s growth plans. It will help expand the Company’s US sales growth, execute its AI product roadmap, and scale its operations to meet the demands of the rapidly expanding digital health market. RPM is predicted to grow to $175B by 2027, while Remote Therapeutic Management is predicted to be worth $17B by 2030 and Chronic Care Management’s estimated in 20332 is $32B.1 With a robust pipeline of growth opportunities, the Company is well-positioned to lead the way in RPM and Virtual Care.
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Wanda’s development plans for its digital platform include:
· a further build out and deployment of its proprietary AI capabilities
· advancing clinical disease readmission risk algorithms.
Wanda will also accelerate its regulatory pathway toward an FDA clearance for the first outpatient-based adjunctive predictive cardiovascular risk indicator.
Wanda is executing innovative services for new clients in both the ‘Fee for Service’ and ‘Value Based Care’ segments of the US market that will be bolstered by its AI and Machine Learning capabilities. Wanda is also developing white label, platform and AI solutions for its growing partner network. This gives the Company access to revenue streams from additional market segments.
The Company recently announced a high-profile strategic parentship with the COPD Foundation providing access to world leading clinical experts, clinical guideline content together with joint marketing and advertising. The COPD Foundation relationship will also extend Wanda’s reach to a broader respiratory patient population and into the clinics in the COPD Foundation’s network.
Tom Smith, Chief Executive Officer of Wanda, said, “The continued support from investors is a strong vote of confidence in both what we have accomplished and in our vision for the future. We are clear in our mission to deliver the best in class intelligent virtual care across acute, chronic and speciality diseases and now we have the firepower to execute it. We can continue to execute on our growth plans, strengthen our team, and expand our reach especially in the US where there are robust market opportunities.”
Dr. Ilian Iliev, Chairman of Wanda and CEO of EMV Capital plc commented, “We are delighted to see Wanda Health successfully close this fundraising. This is a pivotal moment for Wanda Health as it continues to grow its leadership position in the rapidly expanding RPM market, building on its trans-Atlantic presence in the UK and US. EMV Capital is proud to have contributed strategic and investment support through our Venture Building programme. We look forward to seeing Wanda Health’s impact grow as it scales its operations in the US and beyond.”
