LONDON, Aug. 17, 2020 (GLOBE NEWSWIRE) — (med)24, the UK’s first membership-based health service, has raised over £5 million in a seed round. Investors in the business are all private individuals, including one of Ireland’s richest men, Dermot Desmond and individuals occupying senior roles at private equity firms including The Capital Partnership, Round Hill Capital, EFM Asset Management and Stirling Square Capital Partners.
(med)24 will provide members with cutting edge technology, world class medical services including 24-hour access to GP led specialist care at its state-of-the-art clinic, year round flexible and personalised health and well-being programmes providing a premium experience for all users.
Jonathan Kron, co-founder and chief executive of (med)24 said: “We are delighted to have reached this key milestone. Healthcare provision was changing rapidly before Covid-19, that change is now accelerating further. We believe people will demand a better designed health system in the future with consultations, diagnosis and treatment in one physical location backed-up and interchangeable with on demand virtual care where appropriate.”
By providing a full suite of primary care services including minor illnesses and injuries, health and wellbeing under one roof, (med)24 will make the journey back to recovery faster and more accessible. Unlike traditional clinics, (med)24’s clinic will be complimented by treatment rooms for minor procedures, physiotherapy and other procedures, with the capability to provide comprehensive, state of the art point of care testing and diagnostics which includes onsite blood and urine testing and access to ultrasound scans. These offerings would normally entail a referral to a secondary healthcare provider. The goal of (med)24 is to provide flexible access to these services, offering minimal waiting times and on a 24-hour, 365-day-a-year basis.
(med)24’s first clinic is a 7,000 square foot facility situated next to the new Crossrail station at Paddington. The site will have five consulting rooms, two procedure and treatment rooms with scope to accommodate additional services. (med)24’s first clinic is at the centre of one of London’s most dynamic and rapidly expanding business districts, with Microsoft, Vodafone and Nokia all within five minutes walk. The clinic is currently undergoing a million pound fit out with the very latest in medical technology and services from around the world.
(med)24 was founded by Jonathan Kron and Ahmad Al-Hamad. Chief Executive of (med)24, Jonathan has been working in healthcare for over 15 years. During this time he has been involved in the commissioning and development of multi-million pound healthcare services across the public and private sectors.
Ahmad Al-Hamad, Director of (med)24 said: “Our fundraising was significantly oversubscribed. We have been overwhelmed by the interest from investors. We completed the fundraising far quicker than we expected and with fewer individuals. We believe the high level of interest from investors demonstrates the level of demand there is for this kind of world class medical facility in London.”
Notes to editors
- The first (med)24 clinic will open on Eastbourne Terrace in Paddington W2. The clinic will have its own entrance giving customers and patients privacy and ease of access.
- The clinic will be the first in the UK to offer full primary care services 24 hours-a-day and 365 days-a-week.
- Private clinics that offer both primary and urgent care are now an established and successful part of the US medical market. In January this year Life Healthcare Inc, the company behind ‘convenience’ primary healthcare provider One Medical raised $250m by listing on Nasdaq.
For more information and to arrange interviews with Jonathan Kron or Ahmad Al-Hamad contact Jonathan Russell on 07791 295766 or [email protected]
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