THE North West Fund for Digital & Creative, managed by AXM Venture Capital, has made a £150,000 equity investment into Liverpool-based Med ePad, alongside a personal investment from new management.
A sister fund, The North West Fund for Biomedical, managed by Spark Impact, had previously backed the Liverpool Science Park-based company, and AXM and Spark will- co-manage the investment.
The investment will fund the company’s ongoing trials of the Med ePad system with customers within the NHS, through to full scale commercial implementation later this year.
In addition to its financial support, AXM was able to introduce a new chairman, Tom Nawojczyk, and new chief executive, John Hopkins, to work with Med ePad’s founder Rob Connell to deliver the team’s vision of a tablet-based mobile healthcare system.
Med ePad aids practitioner-patient engagement, and improves patient compliance and health outcomes.
The company has developed a cost-effective interactive touch screen mobile internet device for healthcare service providers, aimed at improving the efficiency of treatment and empowering patients to better manage their self-care.
The 7-inch tablet has been designed to come loaded with condition-specific apps created in conjunction with NHS healthcare professionals.
Its vast array of functions include the ability to record medication regimes and daily living patterns, send appointment reminders, conduct online consultations and access specific information relating to a particular condition, in the language of the patient’s choice.
Tom Nawojczyk and John Hopkins previously led in4tek, a successful patient-centric healthcare systems vendor, which they sold to Civica in 2009.
The North West Fund has cumulatively led £500,000 of equity investment into Med ePad, including investment from the new management team.
The North West Fund for Digital & Creative is part of The North West Fund, which has a total of £155m at its disposal covering six categories, and is financed by the European Regional Development Fund and the European Investment Bank.