Cash plan provider Simplyhealth is investing £60m in a venture capital fund to improve access to healthcare in the UK.
The investment, made over a number of years, will focus on early-stage businesses working on projects to accelerate the development and adoption of predictive and preventative healthcare solutions.
One of the first healthcare companies to receive funding from this Simplyhealth project is Daye – a female-founded gynaecological health company which is looking to raise standards in women’s health and to close the gender gap in medical research and innovation. The company is creating a range of products and services for period pain, at-home STI testing and the treatment of vaginal infections.
Simplyhealth CEO Professor Sneh Khemka says the launch of this new fund has been a focus since she stepped into the CEO role last year. “We’re investing in pioneering healthcare businesses in the HealthTech and MedTech sectors and have already made significant investments this year in predictive and preventative healthcare in the UK.
“We strive to make healthcare accessible to all and I am excited that we can financially support innovative healthcare businesses through our fund, addressing challenges in the UK healthcare system. We are a purpose-driven company with no shareholders, so our profits go to fulfilling this purpose.”
Daye founder Valentina Milanova adds: “We have ambitious plans to ensure women’s health is treated with the importance it deserves, and we are delighted to have Simplyhealth join us on that journey.”
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