IW Capital completes GBP2 million Series A fundraise for GPDQ
IW Capital today announces the completion of a GBP2 million investment in GPDQ, providing a welcome boost to healthcare provision in the UK as demand surges during the Covid-19 pandemic.
GPDQ delivers CQC-certified primary healthcare services by mobilising innovative NHS GPs, nurses, pharmacists and other specialists to meet patient demand right across the UK. As the leading multi-channel doctor-on-demand service, The Company has been using its technology platform to connect its extensive network of clinicians with thousands of NHS and private patients through home visits, in-clinic or via video since 2015.
The investment from private equity specialists IW Capital will be used to secure a leading position in the market working with the NHS, employers and insurers. Specifically, by bolstering sales and account management, generating leads through increased marketing activity and the evolution of the technology platform.
The GP community has commended GPDQ’s Chief Medical Officer Dr Anshumen Bhagat for his focus on retaining doctors within the NHS and successfully delivering an improved community-based primary care model as he continues to rise through the GP ‘Pulse Power 50’ each year.
GPDQ is proud to play its part in supporting the NHS during the current pandemic, by rapidly setting-up dedicated Covid-19 visiting services in partnership with GP federations and clinical commissioning groups to support the most vulnerable patients at home. GPDQ’s remote services can also be accessed by 6,500 NHS GP practices via the iPLATO platform, enabling portfolio GPs and doctors in self-isolation to continue to see patients on the front line.
Paul Roberts, CEO of GPDQ, says: “We set out five years ago with a vision to build a more sustainable healthcare system in the UK by working with the NHS, employers and insurers to deliver more care closer to patients out in the community. We’ve worked hard to build a community of clinicians who believe passionately in the ability of technology and new ways of working to achieve that goal. Whether the route to connect is through a visit, in clinic or over video, the personal interaction between doctor and patient is at the heart of everything we do.
“This GBP2m Series A investment will bolster GPDQ’s ability to deliver at scale as it supports the NHS, employers and insurers in getting the UK safely back to normality in the wake of Covid-19.
“Remobilising the workforce following lockdown will be an enormous challenge for all employers, and our market leading solution provides the necessary clinical guidance and support for them to do that. Meanwhile our community visiting services will ensure that those most at risk, including those in care homes are not left behind and forgotten.”
Luke Davis, chief executive of IW Capital, says: "We had an overwhelming demand from our investor base to support this GPDQ raise despite widespread economic uncertainty, and this demonstrates the value of private capital in ensuring that innovative SMEs can still access the funding they need to grow.
“The investment also shows the importance of private investors in growing businesses that can have an impact on national and global issues such as COVID-19. As investment providers we have a duty to offer these opportunities to investors but also to make sure that innovative SMEs get the funding required to grow.”