MedCircuit secures £153,000 investment
MedCircuit, a software company which aims to tackle hospital waiting times, has secured £153,000 funding.
Founded by doctor Lanre Olaitan the company received the money from the Northern Powerhouse Investment Fund (NPIF) to boost its software and launch trials in UK hospitals.
The company’s software lets patients use an iPad to check into A&E, giving them a questionnaire to fill out about their condition to save time in the waiting room.
MedCircuit says this speeds up consultations as doctors have all of the information they need, reducing waiting times in A&E.
The Manchester-based company has also received a £50,000 grant from Innovate UK and £80,0000 from the Oxford Innovation Opportunity Network.
The Northern Powerhouse Investment Fund is managed by Mercia Fund Managers.
“As a former A&E doctor, Lanre fully understands the hospital environment and patients’ clinical needs,” said Jonny Sharp, investment manager with Mercia Fund Managers.
“He spotted the potential to improve efficiency and allow patients to be referred more quickly to the right department.
“In just a short space of time and with limited resources, he has succeeded in delivering a fully functioning product ready for hospital trials.
“This funding round will allow Lanre to further develop the software and to demonstrate its effectiveness by piloting it in multiple trial locations.”
Law firm CMS provided legal advice to Mercia on the investment. London-based William Grace Law advised MedCircuit.