ExtraMed secure £500,000 investment
- 7 March 2007
Scottish based healthcare IT software developers ExtraMed have secured £500,000 of investment to further develop products for the NHS market.
The Falkirk-based company specialise in developing and implementing innovative hospital and patient management systems and have secured an investment package including £250,000 from the Sigma Innovation Fund, £100,000 from Scottish Enterprise’s Scottish Seed Fund and £150,000 of debt facility from HBOS (Halifax Bank of Scotland).
Founded in 2000, ExtraMed says it has enjoyed year-on-year growth of income and headcount, earning a reputation for quality customer service.
Most recently, they have provided software solutions for Bedford Hospitals NHS Trust, East Cheshire NHS Trust and North Cheshire Hospitals NHS Trust.
They have also been working closely with trusts in Scotland, including Lothian NHS Board, Forth Valley NHS Board, Dumfries and Galloway NHS Board, Greater Glasgow NHS Board and the South Glasgow University Hospitals NHS Trust.
ExtraMed’s managing director, Patrick Kelly, told E-Health Insider: “This is great news for us. We can focus on getting more sales and implementations done. Our products are specifically designed to tackle key patient management challenges head on and are delivering real results and benefits.”
Products developed and sold by ExtraMed include the A&E Whiteboard which tracks patient status and monitors time in accident and emergency against the maximum waiting time targets. Bedford Hospital is one of the trusts who have implemented the system.
ExtraMed also offers a bed management solution called Beds which captures up-to-date information on admissions, discharges, transfers and delays. North Cheshire Hospitals NHS Trust has implemented the system in order to reach their target of reducing cancelled operations by 5%.
More recently, they have also created Patients, giving clinicians the opportunity to undertake handheld patient management tool using PDAs, reducing paperwork, improving productivity, and providing quick, easy access to critical patient information.
Discharge Manager is ExtraMed’s newest product which helps multidisciplinary discharge teams to improve the patient’s discharge journey. Discharge Manager is designed to improve communication and prevent duplication. It helps staff to identify the correct pathway which the patient needs to take, as early as possible in the patient’s journey.
Kelly added: “IT is very much in the minds of NHS trusts now and we aim to be able to provide them with systems that will ultimately help them to achieve better patient management and also to achieve their targets for themes such as Payment By Results and Practice Based Commissioning.
“We offer productivity software which can help trusts meet government audit requirements and help make life easier for the staff on the frontline, ensuring their time is better spent. This funding will enable us to bolster our sales and implementation team creating several new posts to win significant new business.”
The company has also been involved with Diabetes IT projects including the migration of data from existing systems to the national SCI-DC Clinical system in Scotland and in the Glasgow Integrated System for the Management of Osteoporosis (GISMO) device, identifying people at risk and providing them with an effective clinical service meets the same needs.
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