Wanda Health: Fundraising and Business Update
We are delighted that Wanda Health (Wanda), the intelligent platform for Remote Patient Monitoring and Virtual Care, has successfully closed a fundraising of £0.86 million (Fundraising) following a period of strong commercial progress and growing demand for its platform. A business update on Wanda also follows.
Fundraising
The Fundraising was led and syndicated by EMV Capital Partners Limited (EMVCP), the Group’s wholly owned venture capital and corporate finance firm. Wanda also is supported through EMV Capital’s Venture Build programme.
The proceeds from the Fundraising will be used to accelerate Wanda’s scale-up of operations with key customers in the US, further product development, and further execution of its commercial strategy. The additional capital will ensure Wanda can maintain its rapid execution pace while meeting rising demand for better chronic disease management and sustainable alternatives to rising drug costs in the US healthcare market.
Business update
Commercial momentum
During 2025 Wanda experienced a period of significant commercial progress, driven by rising interest from US health plans, employers and PBMs, who are seeking sustainable approaches to managing cardiometabolic disease and GLP-1 medication use. Over the past year, the company has launched its GLP-1 weight-management programme, released its enhanced cardiometabolic mobile app, and deployed its new Insights Engine, which is an analytics and AI layer that transforms all platform, device and coaching data into clear, actionable insights.
The company has out-competed several billion-dollar competitors to win multi-million-dollar contracts, has achieved consistent double-digit month on month growth, and expects to exceed $5 million ARR by the end of 2026.
Wanda’s CEO, Tom Smith, presented a detailed update on the company’s commercial traction and 2026 outlook at our Meet the Portfolio event. The full presentation and investor Q&A can be accessed at: https://emvcapital.com/news/media/
Market Outlook
Wanda operates in one of the largest and fastest-growing healthcare markets globally. Chronic conditions account for 90% of total US healthcare spend, and GLP-1 drugs have become the fastest-growing category in the market, now averaging more than $10,000 per member per year. These sectors represent multi-billion-dollar opportunities in the US alone, and the global Remote Patient Monitoring market is forecast to reach around $110.7 billion by 2033, growing at a CAGR of 19.8% from 2025 to 2033¹. With increasing demand and a platform designed for scale, Wanda is well positioned to capture long-term value in this rapidly expanding sector.
[1 Grand View Research, “Remote Patient Monitoring System Market Report,” 2024.]
Appointment of New Chair
To support its next stage of growth, Wanda recently appointed Michael Steel as Chair. Michael brings a unique combination of operational leadership, board experience, and healthcare scale-up expertise. He founded Greenbrook Healthcare, a respected provider of urgent care services to the NHS and grew it into a £40m+ revenue organisation employing more than 700 staff.
As Chair, Michael will work closely with the leadership team to advance commercial execution, accelerate strategic partnerships, and support the rollout of Wanda’s platform.
Dr Ilian Iliev, CEO of EMV Capital and Wanda Investment Director, commented:
“We are very pleased to see Wanda complete this fundraise at a time when demand for sustainable virtual-care solutions is rising sharply across the US healthcare market. Over the past year, Wanda has demonstrated strong commercial traction, a clear value proposition for payers, and the ability to compete successfully against major market leaders. We look forward to supporting Wanda through EMV Capital’s Venture Build programme as it continues building scale and delivering meaningful value to healthcare systems and patients in the US and beyond.”