Medi2data’s technology and services are already trusted by thousands of GP surgeries across the UK, so in May 2024 they have raised £2.1 million in an oversubscribed round led by Wealth Club and existing investors under the Enterprise Investment Scheme (EIS) - to help keep up with increasing demand on their services.

Medi2data’s platform is unique in being built on the same clinical coding structure as the government healthcare systems in the UK, the US, Australia, South Africa, and much of Europe. This allows it to interface more efficiently with primary care providers’ software, leading to quicker, more structured, targeted, and precise medical reporting compared to its competitors.

Any reports that are processed within their proprietary technology benefit from the automatic redaction of all non-requested data, maintaining patient privacy in line with GDPR requirements. The business also utilises a team of in-house Clinicians that play a large role in the fully-outsourced medical reporting and triage service provided to GP surgeries and instructing clients.

The business has access to 100% of GP surgeries within the Primary Care sector, helping Medi2data service leading insurers, Clinical Research Organisations (CROs), and health and retail providers.

The money from this investment round will be used to help build out the team and its infrastructure that the business can continue servicing their multi-million pound pipeline across the UK, as well as continuing to grow internationally - beginning with the establishment of Medi2data S.A. in Cape Town, South Africa.

Richard Freeman, Founder and Chief Executive of Medi2data said:

“It has been a pleasure to work with Gayle and her supportive team, and the success of our collaboration has been well illustrated with an oversubscribed investment round.

Raising investment in today’s markets, for companies at a similar stage in their development and investment cycle, is extremely difficult. Having the backing of Wealth Club and our existing investors provides the company with a great deal of confidence, as we head into our growth stage. The success of this round will provide working capital for the company to invest in revenue growth across our sectors, in addition to investing in our technology and platforms to scale and service our existing clients and an already healthy new business pipeline.”

Gayle Bowen, Director of Direct Investments at Wealth Club said:

“Medi2data is making impressive strides in the healthcare technology sector. Achieving product-market fit so quickly after its launch in 2020 speaks to the effectiveness of its technology and services – in particular leveraging a sophisticated technology which enhances interoperability.

Sales are expecting to double in the next 12 months and the company is aiming to reach sustainable profitability during this time. Being oversubscribed in this challenging market is a glowing testament to the company’s potential and the skill of its management team. We look forward to working with Richard and sharing in the company’s future success.”