22nd August 2020
EKF Diagnostics invests in digital health platform
Cardiff-headquartered EKF Diagnostics has invested $5m into a resilience-driven digital health service for complex chronic conditions.
The investment in the Trellus Health platform will be used to support the newly incorporated company’s work to transform the way chronic conditions are treated, with an initial focus on Inflammatory Bowel Disease (IBD), including Crohn’s disease and ulcerative colitis.
The financing was led by EKF in partnership with Mount Sinai Health System.
EKF has said that it believes the Trellus Health digital health platform will provide substantial value for patients and providers and has the potential to provide attractive returns to shareholders.
It is the Trellus Health investors’ intention to conduct initial market soundings to determine the feasibility and timing of an initial public offering (IPO), and the potential admission to trading on the AIM Market of the London Stock Exchange.
Julian Baines, chief executive of EKF Diagnostics, said: “This is another example of our combined support for a pioneering medical approach that can make a huge difference to the well-being of people with complex chronic health conditions, as well as driving much needed healthcare economic benefits.
“IBD is one of the most costly and complex incurable diseases and Trellus Health’s digital health platform has already been used within Mount Sinai to show how this approach can reduce unplanned hospital interventions.”
Trellus Health chief executive Monique Fayad added: “The traditional journey of medical care for people living with chronic conditions typically results in repeated costly, unplanned emergency room visits and hospitalizations, high rates of work absenteeism and lost productivity, as well as chronic disability and behavioural health issues.
“We’re working to change this by focusing on building patients’ resilience while integrating all partners in care, including employers, insurance plans, health systems, Trellus-certified GI providers, nurses, psychologists, and dieticians who will utilize Trellus Health’s proprietary cloud-based technology platform to effectively monitor and communicate with patients and their caregivers in real time.”