Wanda Health Raises €2.1M for Virtual Care Expansion

Bristol-based HealthTech startup Wanda Health secured €2.1 million in a recent funding round. EMV Capital plc, a DeepTech and life sciences VC, supported this Wanda Health funding. The company develops an intelligent platform for remote patient monitoring and virtual care.

This capital aims to scale intelligent virtual care and reduce hospital readmissions. Additionally, the Wanda Health funding supports real-time patient data collection at home. Clinicians receive alerts for high-risk individuals. The €2.1 million includes €960k from EIS investments, debt, and convertible loan agreement conversions. Furthermore, an additional €287k came from a loan facility.

Strategic Growth in Remote Patient Monitoring

Wanda Health, founded in 2014, builds on UCLA-developed research. Its platform focuses on intelligent remote monitoring of physiological data. It also enhances patient engagement and healthcare analytics for chronic disease patients. The system aims to control and reduce hospitalization rates, differentiating it from broader platforms like Teladoc Health.

The company expands its impact across the US. Existing contracts project over $3.5 million in annual recurring revenue. Consequently, Wanda Health's funding positions it for a Series A investment round next.

Earlier, Wanda Health secured partnerships with the COPD Foundation and the American Heart Association. These collaborations strengthen access to key clinical opinion leaders. The company also closed a new contract with Sav-Rx, a US PBM. This partnership has multi-million ARR potential, competing in a growing market alongside firms like Amwell.

Wanda's Provider Business performs well. Four new provider sites undertake Medicare RTM, RPM, and CMM programs. These programs cover Sleep Apnoea, Pain Management, and General Chronic Disease Management. The company also onboarded assisted living facilities in California. This represents a new use case for their team.