Nesta Impact Investments leads £500k Series A round in Synopsis
Nesta Impact Investments (NII) has led a £500k Series A funding round in Synopsis, a fast-growing healthcare technology platform that facilitates seamless patient assessment and risk evaluation ahead of surgery, adding to its health portfolio. The investment was made alongside GSTC Health Innovations Limited, part of Guy’s and St Thomas’ Charity, and will be used to scale Synopsis' reach and impact in the UK by strengthening its customer experience and business development teams.
The investment is the latest addition to NII’s healthcare portfolio and forms part of the strategy to invest in products and services that help improve health and wellbeing outcomes in the UK, especially older people and disadvantaged groups.Synopsis sits alongside existing investments in Oomph and Reconnections which provide activity management services for older people.
Thomas Hurrell, Synopsis' Chief Executive Officer, added: “We are delighted to welcome Nesta Impact Investments and GSTC not only as investors but as partners. This significantly strengthened position allows us to deliver on our strategic plan more quickly, and to scale the impact we are already having. Synopsis is touching more lives than ever and this round will enable us to accelerate growth whilst investing in great client and patient experiences. This will lead to better outcomes and health for more people, which is our ultimate goal”.
Manish Miglani, Healthcare Lead at Nesta Impact Investments and who will be joining the Synopsis Board, commented: “Nesta’s health investment activity focuses on innovative and scalable care solutions and technologies that improve health outcomes and reduce health inequalities. We backed Synopsis because there is good evidence that an effective pre-operative risk assessment tool is a strong predictor for better surgical outcomes. We are excited to have led this very significant investment round and look forward to supporting management’s scale-up plans for the company.”
Synopsis' platform, Synopsis, is the product of years of intensive R&D. Synopsis' Chief Medical Officer, Dr. Peter Houweling, commented “Synopsis is the market leader in software for the Perioperative Surgical Home (PSH). The PSH is a patient-centered, physician-led, interdisciplinary, and team-based system of coordinated care. It spans the entire surgical episode from the decision to undertake an invasive procedure – surgical, diagnostic, or therapeutic – to discharge and beyond”.
Synopsis' chairman, Jake Arnold-Forster added "Forms to assess patients' readiness for an operation are costly and increase the chance of errors. Already Synopsis is proven to repay hospitals' investment in months. This investment allows us to deliver remote assessments and further reduce the costs and risks of paper-based assessments that consume costly outpatient resources. The data collected will also enable important research and analysis to further improve outcomes at lower cost".
NII’s investment will help the business to expand its activities into more hospitals across the UK and in Europe, improving patient health outcomes by helping to reduce cancellations, delays, risk and errors in surgery.
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