Oxford Technology & Innovations EIS Fund (OTIF) invests £300,006 into University of Oxford spinout company Oxehealth Ltd
News - 21st July 2020
- Oxehealth Ltd is commercialising world-leading clinically-validated remote patient monitoring technology.
- OTIF’s investment was advised by Oxford Investment Consultants LLP and was part of a £5m round led by existing shareholders.
- This is third OTIF investment in Oxehealth Ltd to date, bringing total funds invested by OTIF in the Company to £800,013.
Oxford Investment Consultants LLP (OIC) is pleased to announce a £300,006 investment from the Oxford Technology and Innovations EIS Fund (OTIF) into Oxehealth Ltd, a joint spinout from the University of Oxford and the Oxford University Hospitals NHS Trust. Oxehealth is aiming to redefine patient monitoring, and the investment is part of a £5m funding round led by existing shareholders.
Using low-cost digital video camera sensors, Oxehealth has developed the Digital Care Assistant (DCA): a software platform for monitoring clinical parameters of patients using cameras and proprietary software algorithms. Incorporating machine learning capabilities, the Software-as-a-Service (SaaS) platform monitors patient breathing and heart rate and behaviour non-invasively and alerts the nurse or officer responsible for the patient or inmate if they are out of bed or require medical attention for another reason. This allows often over-stretched hospital wards, care homes and prisons to divide their resources more effectively while avoiding unnecessary contact with patients to monitor vital signs. The DCA’s Vital Signs module was cleared as a European Medical device in 2018 and is experiencing strong traction in UK Mental Health Trusts.
Commenting on the investment, Christopher Hall, Managing Partner of Oxford Investment Consultants LLP said “In the midst of the current challenges caused by COVID-19, it’s great to announce a third investment in Oxehealth. The strong traction the DCA is gaining in UK Mental Health Trusts is positioning the Company to rebound strongly from the pandemic as we look forward to an exciting 2021. The management team’s hard work embodies OIC’s mission to invest in leading UK university spinout companies with commercially transformative technologies.”
Further information about Oxehealth Ltd can be found here.