11health has completed a new round of funding, raising a total of GBP775,000 from six angel investors, on top of the initial funding round of GBP500,000. This brings the total funding to over GBP1.25 million.
This round of funding enables the business to extend the management team and more effectively pursue an aggressive sales and marketing strategy in the UK and the US. It will also further establish the award-winning Ostom-i Alert as the leading medical device for bowel disease patients and develop other connected device products across the healthcare marketplace.
To support the growth strategy, 11health has appointed James Barbour-Smith as Executive Chairman. He will be responsible for the continued financial growth and strategic direction of the firm. James brings to the role over 20 years of global experience in developing and building businesses through his role as Head of Portfolio at Gresham Private Equity.
As part of its US growth strategy, 11health has hired Matthew Wilder, who joins the US team as Vice President of Sales. Matthew will be responsible for implementing sales and driving growth across America. Matthew has extensive experience in medical sales and played for the American Football Team, The Miami Dolphins. The firm is in advanced discussions and trials with a number of well-respected hospitals in the US including: Stanford University, Massachusetts General and Cedars Sinai (LA).
Michael Seres, Founder, 11health, says: "We are pleased to welcome James and Matthew to 11health and look forward to the unique contribution that they will bring to the business. As a connected device company, focused initially on stoma care, our ambition is to become the leading connected device across all medical bags and pouches. These important new appointments, along with this funding will reinforce our growing presence in the US and British markets, and help bring our global vision to reality.
“We are moving forward at a tremendous pace, and this additional funding will really help us accelerate our product development especially into new markets and build out our sales teams in the UK and in the US.
