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UK’s UnLtd matches £50k from Silicon Valley angel for patient powered medical records
It was great to invest in Patients Know Best. I saw lots of fellow angels interested in the business because of their traction in the UK and then their recent expansion into working with the top US hospitals. I also believe in the company’s mission, putting power in the hands of consumers, which is what Silicon Valley is all about.
US angel investor David Beyer, co-founder of Chart.io
The world’s first patient-controlled electronic medical records system, Patients Know Best, has been awarded £50,000 from UnLtd, the UK-based foundation for social entrepreneurs, to match £50,000 of investment from a Silicon Valley angel investor.
Part of UnLtd’s Big Venture Challenge Awards scheme, Patients Know Best (PKB) is now one of just eight social businesses in the UK given a similar matched funding award.
Dr Mohammad Al Ubaydli, CEO and founder of PKB, said: ‘We’re really proud to have received this recognition from UnLtd to support our expansion in the UK. We’re also proud to be one of the only UK social enterprises receiving investment from Silicon Valley, showing we can compete globally – and help millions of patients across the world.’
Gareth Zahir-Bill, investment manager at UnLtd, said: ‘We’re thrilled that Mohammad has secured this investment round with our support. We see Patients Know Best as a great example of a business that delivers significant social impact and provides an innovative commercial solution to the health care sector – as well as a high growth investment opportunity.
‘We will continue to support Mohammad over the next two years and have every confidence he will successfully deliver on his plan to help transform how patients manage their health records across the globe.’
US angel investor David Beyer, co-founder of Chart.io, said: ‘It was great to invest in Patients Know Best. I saw lots of fellow angels interested in the business because of their traction in the UK and then their recent expansion into working with the top US hospitals. I also believe in the company’s mission, putting power in the hands of consumers, which is what Silicon Valley is all about.’
In the UK, a number of NHS teaching hospitals have signed up as PKB customers since the start of 2012, including Evelina Children’s Hospital, St Mark’s Hospital, Salford Royal Hospital and Luton & Dunstable Hospital. Its first customers include Great Ormond Street Hospital, Novartis and NHS South Devon.
PKB has also started working with health charity the AKU Society and with Invictus Health, a concierge medicine provider providing a premium patient service. It is now operating in the USA, Nigeria and South Africa and has ambitious global expansion plans.
PKB is a fully secure online tool that enables patients better to organise, manage and control their own health provision. It also aims to save the time of doctors through allowing secure, online consultations. The platform integrates into the NHS secure network and can be used by any patient with any clinician anywhere in the world. It complies with UK, EU and US data protection requirements.