Digital health tech innovation and investment in the wake of a pandemic
Digital health tech innovation in the wake of a pandemic: Why UK healthcare professionals are choosing to fund the technology of the future
It has been a strange and uncertain time for all industries across the UK - and none more so than the healthcare sector. A year on, and the ramifications of the pandemic continue to be felt - the country now in its third wave of lockdown and an unrelenting strain placed on the UK NHS.
As a result, the need for advances in health-technology to tackle the challenges impacting hospital and community care, is undoubtedly more prevalent than ever. Luckily, the health tech ecosystem in the UK is thriving and innovators, entrepreneurs and clinical experts across the space are responding with an even greater sense of resilience and optimism.
The demand for less convoluted patient pathways; quicker and easier access to treatments, and more localised healthcare services is growing day by day - and while these are by no means new problems, the urgency at which they need to be addressed has been expedited by the pandemic.
Investing in health
It is unsurprising, therefore, that healthcare professionals are not only calling out for more innovation in the health-technology space, but are now funding it with their own investment too. Fuelled by a desire to find solutions that make their own jobs easier and improve the lives of their patients, the number of medical and health professionals seeking innovative tech companies to support is on the rise.
At NuroKor, we are now seeing a much greater awareness amongst the healthcare community of bioelectronic therapy and its role in treating chronic pain and tissue repair. Indeed, McKinsey released an insights article last year titled: Bioelectronics ‘jump-start’ the next wave of device therapeutics, in which they discuss the potential of bioelectronics to become a pillar of medical treatment.
It is this growing exposure and awareness that is piquing the interest of many clinical experts looking to invest in growing healthtech companies, like us, that they believe will make a real and tangible difference to existing patient pathways and treatments.
Over the past 12 months we have received investment from the addition of 19 new healthcare professionals to our growing investor line up - all of whom recognise the immense potential in bioelectronics. Their clinical backgrounds mean they not only understand how our technology is aiding chronic pain and giving patients greater autonomy over their treatment - but also how it can ultimately relieve some of the pressure clinical practitioners, like themselves, face. Not to mention, the economic gains for the NHS.
Speaking about why he chose to invest his own money into NuroKor, our Chief Clinical & Scientific Advisor at NuroKor, Professor Ardeshir Bayat explains:
“Having had a life-long interest in understanding how things work in the body, and particularly the mechanism of tissue and repair - I was particularly impressed by the innovation and creativity that NuroKor harnesses in its technology.”
“It was instantly clear that I shared the same ambition with the company, which is ultimately to improve the lives of people living with pain and injury. Plus, I recognise the enormous potential for using bioelectronics in tissue repair - so investing was a natural fit for me.”
Endorsement from some of the brightest minds in our industry is testimony to the hard-work, commitment and creativity that all our team members at NuroKor deliver on a daily basis. It is also an important reminder that we, as well as the many other clinician-backed health tech innovators out there, are in the best possible place to deliver solutions that will truly shape the future of healthcare in years to come.
Founded in 2018, NuroKor is a company committed to the development of bioelectronic technologies. NuroKor develops and formulates programmable bioelectronic software for clinical and therapeutic applications, in a range of easy to use, wearable devices. It provides the highest-quality products, delivering personalised pain relief and recovery support and rehabilitation to patients.