IW Capital completes £2 million Series A fundraise for GPDQ as primary healthcare innovator helps to combat the COVID-19 pandemic
IW Capital today announces the completion of a £2 million investment in GPDQ, providing a welcome boost to healthcare provision in the UK as demand surges during the COVID-19 pandemic.
GPDQ delivers outstanding CQC-certified primary healthcare services by mobilising innovative NHS GPs, nurses, pharmacists and other specialists to meet patient demand right across the UK. As the leading multi-channel doctor-on-demand service, GPDQ has been using its technology platform to connect its extensive network of clinicians with thousands of NHS and private patients through home visits, in-clinic or via video since 2015.
The GP community has commended GPDQ’s Chief Medical Officer Dr Anshumen Bhagat for his focus on retaining doctors within the NHS and successfully delivering an improved community-based primary care model as he continues to rise through the GP ‘Pulse Power 50’ each year.
Already well-established as the UK’s leading in-community visiting service, GPDQ has been proud to play its part in supporting the NHS during the current pandemic. GPDQ has rapidly set-up dedicated COVID-19 visiting services in partnership with GP federations and clinical commissioning groups to support the most vulnerable patients at home. GPDQ’s remote services can also be accessed by 6,500 NHS GP practices via the iPLATO platform, enabling portfolio GPs and doctors in self-isolation to continue to see patients on the front line.
ClearlySo, Europe’s leading impact investment bank, provided investor introductions to GPDQ, including IW Capital.
Paul Roberts, CEO of GPDQ, said:
“We set out five years ago with a vision to build a more sustainable healthcare system in the UK by working with the NHS, employers and insurers to deliver more care closer to patients out in the community. We’ve worked hard to build a community of clinicians who believe passionately in the ability of technology and new ways of working to achieve that goal. Whether the route to connect is through a visit, in clinic or over video, the personal interaction between doctor and patient is at the heart of everything we do.
This £2m Series A investment will bolster GPDQ’s ability to deliver at scale as it supports the NHS, employers and insurers in getting the UK safely back to normality in the wake of COVID-19.
“Remobilising the workforce following lockdown will be an enormous challenge for all employers, and our market leading solution provides the necessary clinical guidance and support for them to do that. Meanwhile our community visiting services will ensure that those most at risk, including those in care homes are not left behind and forgotten.”
Luke Davis, IW Capital chief executive, said:
“We had an overwhelming demand from our investor base to support this GPDQ raise despite widespread economic uncertainty, and this demonstrates the value of private capital in ensuring that innovative SMEs can still access the funding they need to grow.
The investment also shows the importance of private investors in growing businesses that can have an impact on national and global issues such as COVID-19.”
William Lowry, ClearlySo institutional sales and distribution said:
“GPDQ is a prime example as to why Impact Investing is hitting the mainstream. As the UK’s leading multi-channel doctor-on-demand service, Paul and the team have played a crucial role in enhancing access to primary healthcare while also delivering the consistent growth that institutional investors could simply not ignore”
Notes to editor
About IW Capital
IW Capital is a leading SME investment provider specialising in private equity and debt financing, having facilitated well over c.£100m in development capital investment in UK companies.
GPDQ is a GP service that began life as an on-demand home visiting service in 2015 and has since grown to offer employers a wide range of regular workplace and virtual services to keep their employees healthy. They also work within the NHS to deliver services directly to NHS patients, alleviating pressure both during the COVID-19 pandemic and beyond.
GPDQ was founded by third generation GP and NHS-evangelist Dr Anshumen Bhagat who has appeared in the GP industry magazine ‘Pulse’s Power 50’ in 2018 and again in 2019 for his efforts in reducing NHS waiting lists through utilising digital technology, and raising awareness around mental health challenges for GPs. Dr Bhagat is GPDQ’s Chief Medical Officer today.
GPDQ is the UK’s first genuinely scalable national primary care support platform with a community of like-minded portfolio NHS GPs, nurses and pharmacists who can work wherever they’re needed most, either in-person or via video consultation.
GPDQ was the first ‘in person’ GP-on-demand app to launch in the UK and was also the first to achieve CQC approval. GPDQ is the most popular GP-on-demand service in the UK, having responded to the most call outs since launch, compared to other services.
GPDQ has partnered with the Royal Free to open a GP clinic in London’s Hadley Wood Hospital, which is open 6 days a week.
GPDQ runs corporate clinics for some of the UK’s largest employers, providing curated proactive and reactive packages, giving access to a range of holistic physical and mental wellbeing experts including mental health specialists, physios, occupational health and many more.
ClearlySo is Europe’s leading impact investment bank, working exclusively with enterprises and funds delivering positive social, ethical, and/or environmental impact as well as financial return.
Originally founded in 2008, ClearlySo has helped more than 150 clients raise more than £270 million in impact investment from its extensive network of high-net-worth individual, family office and institutional investors.
ClearlySo is headquartered in London.
E: [email protected]
E: [email protected]