A $120 million fund has been established by UK-based Spex Capital to help MedTech and digital healthcare companies.
The Spex Venture Health-Tech Fund was announced on Monday, February 27. It will invest up to $6 million in early-stage health technology companies at a time when consumers are increasingly using digital-first health services.
Claudio D’Angelo, founder and CEO of Spex, stated in a statement that “even before COVID-19, the push for governments to increase their use of digital technology in healthcare had already begun.”
“We will have unparalleled access to the top entrepreneurs in this industry thanks to our fund, our relationship with MedCity, and a vast network of high-caliber senior advisers,” said the fund’s founder.
According to the press release, the MedCity partnership links the company to the National Health Service of the United Kingdom, which may help early-stage businesses in the industry become “stronger, more scalable firms.”
Considering half of all customers interacting with healthcare providers through a combination of digital and physical channels, the launch coincides with the healthcare sector’s shift to a hybrid but digital-first paradigm.
Internet options have widened access to healthcare services for 73 million people who would not otherwise have the time or money for an in-person medical visit, according to the project “How Digital Has Changed the Consumer Healthcare Experience and Expectations” by CareCredit.
According to the poll, clients who are struggling financially and desire less expensive, more adaptable solutions are particularly interested in healthcare options.
