Role: 1120

Please click on link to read: 'Executive Summary'

To apply for role, click 'here'

Non-Executive Director (Non-Exec) is required for our client in the health tech sector, based in the Enterprise Lab, Imperial College, London.

By using NLP and ML our client has developed a tool that can improve GP efficiency by up to 40%, providing a better quality experience for patients and relieving Doctors of the tedium of record keeping and form filling. Doctors and patients will be able to share medical records with the highest security, privacy and confidentiality standards

The company is looking to strengthen their Board with the appointment of three Non-Executive Directors with start-up / high growth experience to contribute to the development of the company. 

The Non-Executive Directors will be encouraged to become shareholders in the Company to align the incoming Non-Exec’s interest with that of the existing Directors who are shareholders. 

Business Concept:

Our client was formed in early 2020 at Imperial College London with the aim of providing the most advanced and most secure digital technology that will automatically generate medical reports for doctors in real time.

  • The app is designed to interface between the doctor and the patient; it will give the doctor instant access to the patients list of treatments and past medical records and provide critical information about the patient.
  • Doctors will benefit from an efficiency tool that will save up to 40% of their time through automatically recording medical information from a consultation and generating medical reports.

 

Market & Opportunity:

  • The UK mHealth market value is £1.4 billion and the global market is expected to grow to £225 billion in 2025.
  • 86% of doctors use their smartphones in their clinical activity (Patel et al, 2015). There are 290,000 Doctors in the UK alone and 1096 private hospitals/clinics.
  • The opportunity is global with the American market some 6 times larger than the UK
  • Patients have a positive view on mHealth and are expecting it to improve the way healthcare is delivered.

 

Our Proposition:

The total investment we require to launch and run our operations will be £2.3 million by the end of 2022. The founders have invested over £70k and have two current grant applications under review for a total of £420k. HealthMe Ltd is looking for additional:

      • Seed investment: £270k. It will be used for the development of the product, the infrastructure and the launch of the pilot. The duration of this phase will be 12 months and will be partly funded by investing NED’s.
      • Series A: £1.5M. It will be used for the full product rollout. It will start in March 2022.

 

Non-Exec Director Role/Requirements/Expertise:

  • A successful entrepreneur with experience of building an on-line, digital &/or an app business.
  • MedTech/Pharma/healthcare experience with an excellent network and contacts.
  • An individual with experience of fund raising ideally in the HealthTech sector and a network to approach.
  • Suggested initial investment of £50k minimum.
  • Sufficient time to prepare well and attend Board and Strategy meetings.
  • It is expected that the role will require approximately 2 days per month – more in the early stages.
  • The Non-Exec will be encouraged to become a shareholder in the Company to align the incoming Non-Exec’s interest with that of the existing Directors who are all shareholders. The company is registered for the SEIS scheme which provides 50% tax relief and up to 100% capital gains relief subject to status.

 

Application Closing Date: Friday, 12th February 2021

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