City fund backs screening service

Oct 3 2007 by Tony McDonough, Liverpool Daily Post

A COMPANY that has developed a health screening service has been backed to the tune of £250,000 by Merseyside Special Investment Fund’s Liverpool Seed Fund.

Gemini Biomedical has created a pharmacy-based integrated medical screening service called HealthTrack to assess individuals applying for life cover and private health insurance policies.

Trained healthcare assistants collect basic information such as weight, height and blood pressure and use a new oral swab test to collect a blood-derived fluid found in the gums.

This technology replaces the traditional blood test and can detect a variety of conditions including HIV and hepatitis. It can also confirm an applicant’s drinking, smoking and drug taking habits.

The information is then entered into a web-based database platform and can be viewed immediately by the insurance company. Where laboratory results are required these are automatically fed into the system updating the report.

The Liverpool Seed Fund has injected £250,000 into the business to fund bringing the service to market in the UK.

Trials in Dublin have already been successful and the service will shortly be available across the rest of Ireland. The company has been supported throughout the funding process by Liverpool Ventures.

Gemini was set up in 2004 by managing director Paul Hunter who runs the business with co directors Nigel Bradshaw and Jill Corkish. The company has recently relocated from premises in Runcorn to Merseybio.

Mr Hunter said: “Most insurance companies in the UK currently use doctors or nurses to carry out health screening which can be slow, expensive and inconvenient. We can reduce the time taken to obtain this from weeks to days and cut the cost”.

“We are also developing mouth swab tests further to increase sensitivity and expanding the range of tests that can be performed. If successful this could provide non-invasive tests for illnesses such as diabetes, cancer and heart disease.”

Corporate finance advice was provided by Acorn Capital Partners. Legal advisors involved in the transaction were Kate Richards Halliwells (for Gemini) and Andrew O’Mahony from Brabners Chaffe Street (for Liverpool Seed Fund).

tonymcdonough