For release: 07.00, 9 December 2024
EMV Capital
plc
(EMVC, Group
or the Company)
Wanda Connected Health
Systems Limited (Wanda Health) Fundraising
Post-closing direct fair
value c.£1.35m and new c.£1.1m third party AUM
EMV Capital plc (AIM: EMVC), the
deeptech and life sciences VC investment group, is delighted to
announce that its portfolio company Wanda Health, the intelligent
platform for Remote Patient Monitoring and Virtual Care, has
successfully closed a fundraising of £1 million (Fundraising).
The Fundraising was led and
syndicated by EMV Capital Partners Limited, the Company's wholly
owned venture capital and corporate finance firm.
Following completion of the
Fundraising, the Group's total fully diluted equity holding in
Wanda Health is 21.9 per cent, which equates to a post-investment
fair value of £1.35 million. This represents a c.21.5x increase on
the Group's investment of £62,000 (paid for by in-kind services)
earlier in May 2024.
In addition, following the
introduction of investors to Wanda Health by EMV Capital Partners,
the Group's third party assets under management with Wanda Health
is 17.3 per cent. of the fully diluted share capital, which equates
to a post-investment fair value of c.£1.1 million. Such percentage
holdings are based on fully diluted share capital excluding
convertible loan arrangements.
The Group has also entered into an
unsecured convertible loan agreement with Wanda Health for £50,000
(CLA) by means of
exchanging receivables for that value from its in-kind services.
The terms of the CLA include interest accruing at 10 per cent. per
annum, a two year maturity date with the Group having the ability
to convert some or all of the loan into further equity in Wanda
Health at a 20 per cent. discount to its next fundraising
round.
Due to investor demand the
Fundraising has been extended, with at least a further £200,000
anticipated to complete within December 2024.
The proceeds from the Fundraising
will provide Wanda Health with the capital to execute its growth
strategy, which includes:
·
Enhancing its AI capabilities by developing
disease specific AI algorithms for readmission risk.
·
Expanding its market presence in US markets by
targeting 'Fee for Service' and 'Value Based Care'
models.
·
Developing white label solutions for its growing
partner network in order to unlock new revenue streams across
market segments.
·
Advancing regulatory pathways toward FDA clearance
for the first outpatient-based adjunctive predictive cardiovascular
risk indicator.
Wanda Health recently announced a
high-profile partnership with COPD Foundation providing it with
access to world leading clinical experts, clinical guideline
content, as well as joint marketing and advertising opportunities.
This collaboration enhances Wanda Health's ability to refine its
disease monitoring platform, particularly for conditions like COPD,
which affects over 400 million people globally.
Wanda Health, a spinout from UCLA,
is a leading remote patient monitoring and virtual care platform
operating in the UK and US. Delivered as a Software-as-a-Service
(SaaS) solution, it is cloud-hosted with proprietary machine
learning (ML) and artificial intelligence (AI) capabilities. Wanda
Health empowers healthcare providers and payers by enabling early
detection of health exacerbations across acute, chronic, and
specialty disease spaces, improving patient outcomes and reducing
costs.
Wanda Health operates in a
high-growth sector, with RPM projected to grow to $175 billion by
2027, Remote Therapeutic Management estimated to reach $17 billion
by 2030, and Chronic Care Management predicted to reach $32 billion
by 2033¹. With a robust pipeline of growth opportunities, Wanda
Health is well-positioned to lead the way in RPM and Virtual
Care.
1 6Wresearch Market Research
Report, September 2024
Dr
Ilian Iliev, CEO of EMV Capital and Chair of Wanda
Health, commented:
"We are delighted to see Wanda Health successfully close this
fundraising. This is a pivotal moment for Wanda Health as it
continues to grow its leadership position in the rapidly expanding
RPM market, building on its trans-Atlantic presence in the UK and
US. EMV Capital is proud to have contributed strategic and
investment support through our Venture Building programme. We look
forward to seeing Wanda Health's
impact grow as it scales its operations in the US and
beyond."
The person responsible for arranging the release of this
announcement on behalf of the Company is Ed Hooper, Executive
Director and General Counsel of the Company.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH
IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
-Ends-
For
more information, please contact:
|
EMV
Capital plc
|
via Rosewood
|
Ilian Iliev, CEO
|
|
|
|
Panmure Liberum (UK) Limited (NOMAD and Broker)
|
+44 (0)20 7886 2500
|
Emma Earl / Will Goode / Freddy
Crossley / Mark Rogers (Corporate Finance)
|
|
Rupert Dearden (Corporate
Broking)
|
|
|
|
Rosewood (Financial
PR)
|
+44 (0)20 7653 8702
|
John West / Llewellyn Angus / Lily Pearce
|
|
About EMV Capital plc (EMVC)
EMV Capital plc, formerly known as
NetScientific plc, is a deep tech and life sciences venture capital
investment group with an international portfolio of high-growth
companies.
With a strategic focus on generating
superior returns for investors from the fast-growing sectors and
technologies that will define our future; EMV Capital invests in,
manages and strengthens early stage IP-rich companies.
EMV Capital holds both direct equity
stakes and carried interest in its portfolio companies, creating an
evergreen structure that supports extensive growth and value
creation. EMV Capital's investment thesis is realised through these
capital sources:
·
capital-efficient investments through Group
balance sheet;
·
fund management of the Evergreen EIS and Martlet
Capital Funds;
·
syndicated investments leveraging its network of
third-party investors.
EMV Capital's approach is
characterised by its proactive management style, aiming to advance
portfolio companies to critical value inflection points by actively
engaging with them. Companies are supported through Board
representation and the use of its Value Creation Services
practice.
Headquartered in London, with a
Cambridge presence and strong international links, EMV Capital is
quoted on the AIM market of the London Stock Exchange.
For more information, visit
www.emvcapital.com
About Wanda Health
Wanda Connected Health Systems Ltd
(Wanda Health) is an intelligent platform for remote patient
monitoring and virtual care. Wanda Health is empowering healthcare
providers and payers with early detection of exacerbations in
patients with acute, chronic, and specialty diseases, helping them
speed interventions, prevent adverse events, and improve patient
adherence.
The company is building on many
years of research, including UCLA developed technologies focused on
intelligent remote monitoring of physiological data, patient
engagement and healthcare analytics for post-acute care, chronic
disease patients and population health. Wanda Health's platform enables the control
and reduction of hospitalisation and readmission rates through a
Remote Patient Monitoring System that collects data from patients'
homes or community settings and provides it to clinicians,
highlighting high risks cohorts.
Wanda Health also uses its comprehensive
multi-modality patient engagement tools to ensure that adherence to
treatment protocols increases, improving patient outcomes. This
patient centric approach to care model delivery, combined with
secure computing and revolutionary data mining and analytics
provides actionable insights to the care provider to improve
patient outcomes, whilst reducing cost of care of chronic
conditions.
For more information, visit
www.wandahealth.com