By now it’s common knowledge that startups aiming at the medical/healthcare industry are pretty hot prospects. This is a sector waiting to be super-charged by cloud applications and devices. The latest evidence of this was the recent $17 million fundraising in the US by Doximity, a sort of social network to allow doctors to connect with each other and with patients for ongoing health monitoring. Today UK-based Qinec has raised £1.6m ($2.5m) from European technology investors, Amadeus Capital Partners and Archimedia Investments.
Qinec is a web-based medical practice management business. In plain English, that means it’s a kind of ‘Salesforce for doctors’, allowing them to run their practices, but also providing things like iPad apps for patients to interface with the practice. It’s now secured distribution and licensing agreements outside the UK, including in the US.
Qinec streamlines processes such as appointment booking, patient record-keeping, prescribing and billing, and works with outpatient care providers like ophthalmologists and physiotherapists. It says it was recently selected as the cloud platform for the UK outpatient network of a major blue-chip international insurer and healthcare provider, although these are not named.
Qinec CEO, Robbie Hughes says there’s “a significant opportunity to transform the economics of healthcare if outpatient care provision can be delivered in a joined-up and connected way.”
Amadeus Seed Fund Managing Partner, Alex van Someren, says the medical IT sector is “undergoing rapid and significant change, while Archimedia Founder & Chairman John Hunt, thinks “secure, cloud-based IT services are an inevitable solution to improving processes and outcomes in healthcare.”
Legal advisers on the funding were Osborne Clarke for Amadeus, Chadbourne & Parke for Archimedia, and Cannings Connolly for Qinec.