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Health2Works Receives £251,000 Midven Venture Capital & Angel Investor Investment(May 08, 2014)
Birmingham, UK (PRWEB UK) 8 May 2014
Health2Works, an innovative software company that has developed an online platform to help families and carers better support ill relatives, has secured funding from venture capitalist firm Midven and a number of angel investors.
Health2Workss Rally Round app gives relatives and carers the ability to co-ordinate practical help for a frail or ill family member. Network members are able to add and manage jobs or tasks that need completing. The free Rally Round app is now available for download from the App Store.
The aim is to reduce admissions to residential care facilities and provide a possible alternative where social care is impractical.
Health2Works, which is based in Newcastle-under-Lyme, Staffordshire, is the brainchild of Steve Pashley and Roger Marlow, who have also created Ollie an interactive tool for paediatric speech and language therapists. Ollie makes the process more fun for children and gives parents and teaching assistants the chance to monitor progress between appointments. The tool also offers the reward of CBBC online games after exercises have been completed.
Midven, the leading venture capital firm in the West Midlands, provides investment for small, high-growth businesses across a range of sectors in the West Midlands. Through its Exceed and Early Advantage funds, Midven has invested £151,000 in Health2Works to help it take Rally Round and Ollie to a wider market; this is in addition to £100,000 of investment from a number of supportive angel investors.
The software innovations are just two of 15 that have been created by Health2Works. Others include: Amy, a tool to help stroke victims recover speech ability; Recap Health, a self-care site that features information from clinicians to help patients better manage conditions; and Ralfy, a search directory to help GPs find relevant community-based third sector services for their patients.
Steve Pashley, Joint Managing Director at Health2Works, said: There is huge pressure on the NHS to save money and one of the ways it will do that is through technology innovation. After working with a number of NHS trusts, we already know of the benefits that apps and tools like Rally Round and Ollie bring in terms of empowering patients and increasing productivity. The funding we have received from Midven and our angel investors will enable us to progress to fully-commercialised, universal tools that will help NHS health care providers across the country.
Midven Investment Executive John Slaughter said: Midven is excited to help Health2Works realise its growth ambitions. The company has a fantastic combination of innovative products that are of real benefit to patients and a team with an eagle eye for market opportunities. Health2Works is also a company that has a scalable business model, which enables us to see the strong potential for future development.
About Health2Works Limited
Health2Works was established by Steve Pashley and Roger Marlow in 2009 and has since developed a range of patient-facing web applications with NHS clinicians and NHS users. The company has two divisions, the first specialising in bespoke development for NHS customers and the second in commercial provision selling a variety of online products.
Health2Works has developed a reputation for delivering dependable products by working with frontline clinicians who have direct contact with NHS users. In total the company has developed 15 products and has plans to expand its range. For more information, please visit http://www.health2works.com.
Midven is the leading Midlands-based provider of venture capital funding to early-stage and growth businesses. The Birmingham-based venture capital firm currently manages five funds representing a total of £74m under management. The Midven team has established a reputation for delivering solid commercial experience and creative business solutions to help their portfolio companies achieve exceptional outcomes. For more information, please visit http://www.midven.co.uk or follow @Midven on Twitter.
Read the full story at http://www.prweb.com/releases/midven/health2works/prweb11832377.htm.