A digital health specialist based in Liverpool city region is to double its headcount to 150 people as it secures a £1m cash injection. Tony McDonough reports
Liverpool city region digital health specialist ORCHA Health has secured £1m from Maven Capital Partners and is set to double its headcount to 150.
Founded by former NHS speech therapist Liz Ashall-Payne, ORCHA is based at Sci-Tech Daresbury. It provides a platform to allow health bodies such as NHS trusts to properly evaluate new healthcare apps.
Described as “the Martin Lewis of health apps”, ORCHA’s platform delivers a systematic approach to assessing, accrediting and deploying digital health technologies. According to the business there are around 350,000 health apps available but only 20% meet safety standards
Its products are used in 12 countries, including the UK, Canada and parts of Europe. Customers include Public Health England, MHRA, NHS Digital, Mental Health Commission of Canada, and the American Telemedicine Association.
Revenue at ORCHA has soared by 300% over the last 12 months. Maven, a private equity house based in Glasgow, is investing in the firm to support its expansion into new and existing markets.
This includes developing a US operation and increasing its footprint in Europe. The funding will also enable the business to further invest in its core technology, and double headcount to 150 employees by spring 2023.
Liz Ashall-Payne, chief executive of ORCHA, said: “We are delighted that Maven chose to invest in ORCHA and our vision to improve the lives of people with the best digital health.
“The market is growing exponentially. With Maven’s help we are better placed to ensure people access only safe and effective products that will improve health systems and change lives.”
Dean Cox, investment director at Maven, added: “We are delighted to be partnering with Liz and her experienced management team to fulfil ORCHA’s exciting growth ambitions.
“The business has created a truly unique platform that has both the potential to be a market-defining offering and also improve the lives of millions of patients globally. Coupled with strong market tailwinds, we believe ORCHA is well placed to capitalise on the heightened demand from national and local healthcare providers.”