Investment highlights

  • c. 76,200 registered users primarily in the UK, as well as Australia, US, South Africa and Malta
  • User growth of 42% in the past 6 months
  • Used by healthcare professionals in 700 Healthcare Institutions
  • Amongst registered users 66.7% doctors, GPs and consultants, 19% nurses and over 14% other healthcare professionals
  • Over 5.6m extensions looked up in the past 12 months
  • Over 1.1m calls made from the app in the past 12 months
  • Viewed more than 32,700 guidelines in the past 12 months

Key strengths

Industry demand
  • Healthcare demand is growing – Demand is going up driven by a combination of ageing population, technology and patient expectations.
    But spending is tight
    – Spending is already high as a percentage of GDP so there is little room for further investment.
    Technology is part of the solution
    – Health systems are looking to capitalise on technological advancements to make their offerings sustainable and fit-for-purpose.
  • But current solutions are poor – Previous innovations have simply seen a combination of point solutions and stone age technologies in top down projects with little user buy-in.
Strong foundations provide platform for growth
  • Strong organic user base growth – Over 76,200 registered users, primarily in the UK. Based on the most recently published NHS data 44% of UK doctors and 13% of all UK Healthcare Professionals use the Induction Switch app.
  • Established user base – Induction Switch is used in 567 UK Healthcare Institutions and is currently populated with in excess of 183,560 phone extensions.
  • International reach – Outside of the UK, Induction Switch has over 4,700 users, located primarily in the USA, South Africa, Malta and Australia.
  • Engaged user base – Over c. 5.6 million directory look-ups, c.1.1 million calls and 32,700 guideline looks over the last year.
Fragmented, large market
  • Fragmented market – The global healthcare tech market is largely fragmented with lots of local point solutions.
  • Fast-growing and large market – The estimated global spend on healthcare technology in 2015 was $125bn and this is forecast to grow to $297bn by 2022, a compound annual growth rate of 13.2%.
  • Buy and build – Opportunities to buy and build new modules for the core platform to drive revenue synergies, margin expansion and market share.
  • International opportunity – There are a number of other foreign markets which have favourable funding and infrastructure landscapes for Induction Switch.
Scalable, well-invested platform
  • Security – Secure platform compliant with GDPR and regulation on the handling of patient data.
  • Purpose-built functionality - Similar features to the messaging apps used by the general public but with further healthcare-oriented functionality.
  • Ready for expansion – Induction Switch technology has been designed to transfer easily into multiple geographies and languages, allowing for simple international expansion.
Management track record
  • Experience in healthcare and technology – Mix of doctors, technology and finance professionals with extensive experience in the healthcare and technology sectors.
  • Proven track record – The team is behind the success of DrugDev – a disruptive innovator in clinical trial technology used by 90% of the world’s top pharmaceutical companies – which, like Induction Switch, is also used by a vast network of healthcare professionals.
Freemium revenue model
  • Built for growth – Freemium revenue model is tailored to drive healthcare adoption with a user-centric approach that will encourage bottom-up advocacy.
  • Integrated solution – The model has scope to expand to create an end-to-end solution for healthcare professionals.

Last updated on 22 May 2019.