Exco InTouch, a provider of patient communications products, has secured a £3 million investment that has been led by growth equity and venture capital group Scottish Equity Partners.
Exco InTouch, a provider of patient communications products, has secured a £3 million investment that has been led by growth equity and venture capital group Scottish Equity Partners (SEP).
SEP has taken a minority stake in the company, which will use the funds to accelerate its expansion, namely into the clinical technology sector and the emerging mobile patient communication market.
Exco InTouch, whose clients include nine multinational pharmaceutical businesses, has developed a range of communication products for patients for the pharmaceutical and healthcare sector. The products use a combination of cell-phone and internet technology to assist managers of clinical trials to be better informed about patient health.
More than 600,000 patients have used the services in clinical trials in more than 70 countries, and a recent client has been the giant Pfizer. Exco InTouch is also targeting opportunities in the broader healthcare market as mobile technology can be used to manage patient education, medication compliance and measure effectiveness.
Founded in 2004 by chief executive Tim Davis and chief technology officer Mike Hansen, the business has its headquarters in Sawbridgeworth, Hertfordshire, UK, and offices in Nottingham, UK, North Carolina, US, and British Columbia, Canada. According to a statement, the business is already generating profits and employs 40 staff.
The SEP investment will fund the company’s next growth phase, enabling it to increase headcount, develop technology and infrastructure, and to further enhance its product range.
Dr Neil Rotherham, executive chairman at Exco InTouch, comments, ‘This financial year has proved highly successful for us, with particular growth in our ePRO, and patient engagement services that are used for patient retention, recruitment and compliance in clinical trials and other healthcare settings.