Digital Healthcare raises further £2.6M

17 Dec 2008 | News

Investment

Digital Healthcare Ltd raised a further £2.6million from its venture capital backers to fund expansion of its core products and services and broaden its international presence.

Alliance Trust, a British investment firm, led the round, with YFM Private Equity and the Noble Group, and Paris-based Elaia Partners also following on. The company has raised nearly £7.2 million to date.

John Morrison, Director of Alliance Trust Equity Partners said, “The problems that Digital Healthcare’s products address are clearly global ones, we’re looking for the company to grow and develop and become a major international player.”

Mike White, Investment Director YFM Group said, “As the original backers of Digital Healthcare, YFM has seen the business develop to become the leading provider of diabetic screening software to the National Health Service. Following its success in the UK, the company is now rapidly building a position in the emerging and much larger US diabetic retinopathy screening market.”

Digital Healthcare provides software and related services for very large scale population eye screening and technology to manage information and images in clinical ophthalmology. In the UK care of over 1 million diabetic patients is managed using Digital Healthcare’s OptoMize product with 39 regional Diabetic Retinal Screening Schemes providing screening to detect early and previously undiagnosed signs of diabetic retinopathy and other causes of blindness.

In the US the company’s Retasure service for detecting signs of retinopathy in diabetic patients is used by nearly 900 physicians in 19 states.

Mike O’Leary, Chief Executive of Digital Healthcare, said “The company’s success to date in developing functionally rich software solutions based on leading edge Microsoft technology has been proven by the many implementations that we have. This additional investment will allow us to grow and develop into other territories and sectors of the healthcare market internationally”


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