London, 4th April 2022 – EMV Capital today announced that its portfolio company Wanda Health Inc, a leading telehealth company that provides a virtual care platform for patients with heart failure and other chronic diseases, has partnered with Florida-based Smart Meter Corporation, a cellular-enabled remote monitoring devices provider, to ensure reliable, high quality data capture from patients, regardless of access to smart devices and internet connectivity.
The partnership will provide intelligent virtual care, device logistics, timely alert management and patient engagement services to complement the extensive collection of care management capabilities that comprise the Wanda Health intelligent virtual care platform. Designed specifically for healthcare providers in North America and Europe, the partnership will give optimal data from cellular-connected devices no matter where they are located.
The growth in the digitally-connected healthcare market has exploded since the beginning of the Covid-19 pandemic, and the type of solutions and services offered by Wanda Health are seeing increased demand on all fronts. Indeed, the global connected healthcare market size is projected to grow from approximately US$51.59 billion in 2021 to approximately US$297.95 billion in 2028*, with market demand exploding across all regions, particularly in North America, Europe, Asia Pacific and elsewhere.
EMV Capital, a fully-owned subsidiary of NetScientific PLC, invested in Wanda Health Inc in 2019 as part of a turnaround. Starting as a UCLA spin-out, the company’s platform warns health-care practitioners and patients of potential adverse medical incidents, thus helping identify urgent medical care and treatment needs, and contributing to reduced re-admissions and emergency department visits. This new partnership will boost the company’s offering and provide increased service to those located in remote areas where connectivity can falter.
Commenting on the partnership, Casey Pittock, CEO for Smart Meter said “Customers demand accuracy and precision in both the quality of the readings and the transmission of that data. The combination of Smart Meter devices and the Wanda Health RPM solution will result in delivering the timely information that will improve care and facilitate billing for remote patient monitoring services.”
Tom Smith, CEO for Wanda Health said: “Our partnership with Smart Meter will continue to enhance our intelligent virtual care platform, by increasing access to not only quality but quantity of ingested patient data. This will help us to reach new patient populations and enhance our programme offerings to healthcare providers.”
Dr Ilian Iliev, Managing Director for EMV Capital and CEO for NetScientific PLC noted: “As part of our trans-Atlantic thesis, our investment in Wanda has helped the company to focus on scaling its connected health offering in the US healthcare market. During COVID this market saw an explosion of demand as digitisation of healthcare services took off. We are pleased to see the results of the team’s work over the last few years, as Wanda moves towards accelerated commercialisation in the US, while exploring growth opportunities in the UK and Europe”
About Wanda Health Inc. (www.wandahealth.com)
Wanda is dedicated to advancing the effectiveness and efficiency of medicine by combining machine learning, virtual care and modern software applications to empower payers and providers to better manage the risk and outcomes of caring for patients with chronic diseases such as heart failure. Wanda’s predictive patient care platform is clinically proven to improve patients adherence and outcomes while dramatically lowering the cost of care. Wanda Health was founded from the results of eight clinical trials at the University of California Los Angeles (UCLA).
About Smart Meter LLC (https://smartmeterrpm.com)
Smart Meter is the leading supplier of cellular-enabled virtual care technologies including the iGlucose™, iBloodPressure™, iScale™, iPulseOx™, and SmartRPM™ cloud platform, data, and services. Smart Meter’s remote patient monitoring solutions are recognized as the standard for the remote patient monitoring industry and are regarded for their high patient retention and satisfaction. The unique combination of reliable health data, patient-friendly devices, and platform integrations enable and enhance RPM, Chronic Care Management (CCM), Employee Wellness, Population Health, and Telehealth programs for more than 300 RPM distribution partners across the United States.
About EMV Capital Ltd (www.emvcapital.com)
EMV Capital Ltd (EMVC), a fully-owned subsidiary of AIM-listed NetScientific PLC, is a London-based award-winning investor focused on B2B companies in the healthcare, sustainability and industrials sectors with investments in the UK, US and Israel. EMVC’s model is to develop a customized investment strategy for each company, combining its network of investors from Family Offices, Wealth Managers, Institutional VC investors and Corporate VC funds. EMVC recognizes the benefits of corporate engagement for early-stage technology companies, with EMVC’s unique multidisciplinary team having led and structured investments alongside some of the world’s leading corporations. EMV Capital Limited is an appointed representative of Sapphire Capital Limited, which is authorised and regulated by the Financial Conduct Authority. The company has won a number of Awards, notably Best EIS Newcomer 2018’ and ‘Industry Rising Star’ at the Growth Investor Awards 2019, and has been nominated as finalist in the Health Investor Awards 2022. Learn more about EIS investment opportunities in the UK.
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