Access to NHS primary care is getting worse due to a supply-demand mismatch. Last year alone, there were 32m occasions where a patient could not get an appointment to see their GP. As a response, a number of successful tech solutions have emerged in the private sector where doctors are able to give online video consultations. However, these solutions are only able to diagnose and manage a limited amount of conditions meaning that patients would still need to be referred back to their normal GP.

To tackle this problem and capitalize on one of the objectives of the NHS to shift more primary healthcare into the some of the 11,700 community pharmacies in the UK, MedicSpot has developed a hybrid diagnostic solution that can be deployed remotely. Using underutilised pharmacy consulting rooms and connected medical monitoring equipment, MedicSpot can accurately diagnose and manage 75% more conditions than any other digital GP healthcare provider.

Self-funded to date, the company has had significant traction with the support of partner GPs and the 70 pharmacies already operating with MedicSpot.  The company has performed over 4,000 patient consultations using their solution and are planning to increase the number of pharmacies to 339 pharmacies by 2019, resulting in £1m in forecasted revenue.

Led by General Practitioner, Dr. Zubair Ahmed and backed by partner GPs, the company is looking for funding to expand its operations and diversify its product offering.

 

 

Investment Highlights

  • Innovative hybrid solution allowing diagnosis of 70% of conditions normally done by a physical GP

  • Growing addressable market of £3bn, benefiting form the Government and NHS initiatives to use digital solutions

  • Proven model with 70 pharmacies signed up on their platform and securing a pilot with the NHS

  • Strong management team led by Dr Zubair Ahmed, a GP who holds an MBA in Entrepreneurship from LBS