Caerphilly-based health firm raises £400,000

Caerphilly-based technology firm Signum Health has secured £400,000 in an investment round led by the Development Bank of Wales.

The company said it’s also received backing from private investors. This is the second investment round for the firm, having raised £600,000 to date.

As part of the investment, the company has appointed Professor Stephen Smith as its new chairman. He’s the former CEO of Imperial College NHS Trust and founder of the first Academic Health Science Centre in the UK.

Over the years, Smith has sat on the committees of organisations such as the United Kingdom’s Medical Research Council, the World Health Organization, the National Institutes of Health (USA), the National Health Service (NHS), the British Heart Foundation and the Wellcome Trust.

Founded in 2016, the company has developed artificial intelligence and cloud-based solutions to bring remote health care and support to local communities around the country.

The company is led by primary care and public health expert Victoria Norman, who has spent much of her career exploring the challenges faced by GP surgeries and patients.

She said: “This latest round of investment will help us to take Signum Health to the next stage of its development. We are already helping GPs surgeries around the UK and we can’t wait to see Signum Health used in every surgery in the country.

“Having someone with the experience of Professor Smith coming on board as our Chairman is further validation that Signum Health is innovating in this field and is a much-needed service for the NHS. We are thrilled to welcome him as part of the Signum Health team.”

Dr Philip Barnes, technology Ventures Investment Executive of Development Bank Wales, said: “Signum Health has a highly talented management team with exciting plans for scaling their innovative digital health business across multiple sectors.”

Victoria explained that her company’s goal is to “enable patients, healthcare providers such as pharmacies, GPs and other alternative services to work more efficiently in sharing health information in a way that benefits everyone”.

She added: “With a shortfall in the number of General Practitioners, an aging population and increasing financial constraints, Health and Social Care organisations are under severe pressure.

“We have identified that the sector would benefit from digital technology to create efficiencies, financial savings and ultimately better care for patients.

“Signum Health provides this exact support through its digital services, alongside and integrated with traditional services, so people can take control of their own health, access care quickly and effectively, whilst allowing the healthcare workforce to be used in a more prudent way.”