MyMeds&Me was established in 2011 by three pharmaceutical industry executives, Stephen Powell, Andrew Rut and Trevor Gibbs, who identified the need to capture important information on medicines at source.
The company’s platform simplifies the process of data capture direct from patients and healthcare professionals in a proactive, structured manner that provides consistent, complete and coded data. This data is exported immediately into Pharma company safety systems facilitating rapid evaluation and prompt regulatory reporting.
The pharmaceutical industry processed around six million such events last year and the volume has grown at ten to 15 per cent per annum. over the last five years.
Dr Andrew Elder, partner and head of healthcare at Albion Ventures, said, “We are excited about partnering with Andrew, Stephen and Trevor through our investment in MyMeds&Me. This transaction is the culmination of an extensive amount of research, which identified patient engagement as a particularly high growth area within the healthcare IT sector. Given the increasing shift towards patient-centric healthcare we believe the MyMeds&Me platform presents a highly attractive investment opportunity.”
MyMeds&Me marks Albion’s tenth investment in the healthcare sector in the last five years. Currently 20 per cent of Albion’s portfolio is in the healthcare sector, reflecting its central position in its portfolio. Other investments managed by Albion in the healthcare sector include Abcodia, Bayfield Court, Dysis Medical, Masters Pharmaceuticals Limited, Mirada Medical, Nelson House, Orchard Portman House, Oxford Immunotec, Peakdale Molecular, Proveca and Xceleron.
Albion Ventures specialises in VCTs with around £230m under management. Formerly known as Close Ventures, it was acquired by its management in early 2009 from Close Brothers Group.
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