ICMIF member Simplyhealth (UK) has announced the launch of its Venture Capital fund, ‘Simplyhealth Ventures’ this week. Over the next few years, the fund will invest GBP 60 million in UK-focused, early-stage healthcare businesses to accelerate the development and adoption of predictive and preventative healthcare solutions. These investments will support Simplyhealth’s overriding purpose to improve access to healthcare for all in the UK.
This year, Simplyhealth has invested in three innovative HealthTech start-ups. The fund took a majority stake in OcuPlan, the country’s leading provider of plans to support those with chronic eye conditions. This was followed by an investment in Ampersand Health, a digital therapeutics platform for chronic inflammatory conditions. The mutual’s most recent investment came in October 2022, with an investment in Daye – a female founded gynaecological health company on a mission to raise standards in women’s health and to close the gender gap in medical research and innovation by creating convenient products and services.
Commenting on the launch, CEO, Professor Sneh Khemka, explained: “I am proud to launch Simplyhealth Ventures, which has been a focus of mine since I stepped into the CEO role last year. We’re investing in pioneering healthcare businesses in the HealthTech and MedTech sectors and have already made significant investments this year in predictive and preventative healthcare in the UK.
“We strive to make healthcare accessible to all and I am excited that we can financially support innovative healthcare businesses through our fund, addressing challenges in the UK healthcare system. We are a purpose-driven company with no shareholders, so our profits go to fulfilling this purpose,” Professor Khemka concluded.