Schroder UK Public Private Tst plc Investment in Ada Health (5096U)
04 December 2021 - 3:34AM
UK Regulatory
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RNS Number : 5096U
Schroder UK Public Private Tst plc
03 December 2021
Schroder UK Public Private Trust plc
Investment in Ada Health
Schroder UK Public Private Trust plc (the "Company") is pleased
to announce it has made a Euro 11.8 million investment in digital
health company Ada Health. Ada Health has developed a powerful
Artificial Intelligence ("AI")-based health assessment and care
navigation platform that helps users to understand their symptoms,
to identify and differentiate conditions with a high degree of
medical accuracy, and to navigate safely to the right care, at the
right time.
The Company has acquired secondary shares on the back of Ada
Health's successful Series B financing led by Leaps by Bayer
completed in May 2021. Additional investors participating in the
round include Vitruvian Partners, Samsung Catalyst Fund, Inteligo
Bank, F4 and Mutschler Ventures.
Ada Health was founded in Berlin, Germany, in 2010 by British
native Dr. Claire Novorol, PhD, together with Daniel Nathrath and
Dr. Martin Hirsch, PhD, combining diverse medical, scientific and
commercial backgrounds. Ada Health was established with the aim to
develop a reliable and safe health assessment and care navigation
platform which fulfils the requirements for deployment as a
clinical decision support system. Today, Ada Health can help
shorten time to diagnosis by providing medical guidance that is
relevant, actionable and effective, and will increasingly leverage
personalized data insights to support the prediction and prevention
of diseases.
Ada Health's core technology is available in a suite of
AI-driven enterprise solutions. The company is collaborating with a
range of leading health systems, insurers, life sciences companies,
and global non-profit organizations to integrate its symptom
assessment and care navigation solutions into a range of digital
care journeys to improve outcomes for patients and healthcare
providers. Ada Health is experiencing strong momentum in the
commercialisation of its solution and has closed a number of
important partnerships recently and has a strong pipeline ahead. In
particular, Ada Health is in advanced discussion with a number of
UK based care providers and payors and the Company believes that
Ada Health can have a significant positive impact on how healthcare
is delivered in the UK in the future.
In addition, Ada Health's consumer app has become the world's
most popular and highest-rated symptom assessment app, with over 11
million users since its global launch in 2016 of which more than 1
million are based in the UK.
Ada Health's proposition and impact strongly aligns with the
United Nations' Sustainable Development Goals ("SDGs"). The
investment in Ada Health is in line with SDG 3 "Ensure healthy
lives and promote well-being for all at all ages", Target 3.4 "By
2030 reduce by one-third pre-mature mortality from non-communicable
diseases (NCDs) through prevention and treatment, and promote
mental health and wellbeing", Target 3.8 "Achieve universal health
coverage, including financial risk protection, access to quality
essential health care services, and access to safe, effective,
quality, and affordable essential medicines and vaccines for all"
and Target 3.D "Strengthen the capacity of all countries, in
particular developing countries, for early warning, risk reduction
and management of national and global health risks".
Tim Creed and Roger Doig, Portfolio Managers of the Company,
jointly commented: "We are delighted to announce the fourth new
private equity investment since our appointment as Portfolio
Manager. We are at the watershed of a major shift in healthcare, as
innovative digital solutions support better health outcomes and
clinical excellence with intelligent technology. Ada Health's
technology is a rare proposition which delivers against all
components of the iron triangle of health care: improving access to
reliable healthcare, improving the quality of care through earlier
diagnosis and better outcomes while simultaneously helping to save
cost by removing inefficiencies in patient care navigation. We are
excited to invest in a company with such significant global growth
potential while delivering real impact on how healthcare is
delivered."
Enquiries:
Schroder Investment Management Limited
Estelle Bibby (Press) 0207 658 3431
Gareth Faith (Company Secretary) 020 7658 5264
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