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317%
Raised
£317,540
Investors
473
Target
£100,000
Equity
17.47%
Pre-money valuation
£1,500,000

Ultramed is a health tech company, placing innovation and patient experience at the forefront of their strategy. Combining clinical NHS operative experience, they operate a suite of cloud based pre operative products. The aim is to reduce costs and free up health care resources.

  • £65m could be saved if the NHS adopted digital preoperative assessment
  • The NHS performs 10 million procedures per annum
  • The founding team has broad commercial and clinical skills
  • Initial funding of £130k has allowed products to be commercialised

Idea

Ultramed operates a suite of online patient completed pre-procedure assessment programs under the Ultraprep trademark. The aim is to reduce costs and free up health care resources.

In 2011 the Department of Health published an investigation into digital preoperative assessment. It suggested that £65 million could be saved each year if this was adopted by 20% of the NHS. Our research suggests it hasn't been, presenting the commercial opportunity. With increasing use of the internet and the NHS moving to digital processes, the time is now.

Pre-procedure or preoperative assessment is usually paper based and completed by a nurse. This can take up to an hour. We operate a suite of products, hosted in the cloud, which aims to be efficient for clinicians and patients while reducing costs. Patients enter their information, then share it with their health care provider.

The NHS performs 10 million procedures each year. Ultraprep includes assessment for operations, endoscopies, cardiac cath lab and interventional radiology procedures. We are trialling with a private sector company and we're in talks with the Department for International Trade for their export support programme.

We feel we've gained good traction in the market given the barriers to entry for innovative products in the NHS. New product ideas for development have been identified using the initial software platform.

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Ultramed has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.