Patients Know Best (PKB), the world’s first patient-controlled electronic medical records system, has been awarded £50,000 from UnLtd, the Foundation for Social Entrepreneurs, to match the first £50,000 of investment already secured from a group of Silicon Valley angel investors.
Part of UnLtd’s Big Venture Challenge Award scheme, PKB is now one of one of only eight social enterprises in the UK given a similar matched funding award.
Dr. Mohammad Al Ubaydli, chief executive and founder of PKB said: “We’re really proud to have received this recognition from UnLtd to support our expansion in the UK. We’re also proud to be one of the only UK social enterprises receiving investment from Silicon Valley, showing we can compete globally – and help millions of patients across the world.”
Gareth Zahir-Bill, Investment Manager at UnLtd said: “We’re thrilled that Mohammad has secured this investment round with our support. We see Patients Know Best as a great example of a business that delivers significant social impact and provides an innovative commercial solution to the health care sector – as well as a high growth investment opportunity. We will continue to support Mohammad over the next two years and have every confidence he will successfully deliver on his plan to help transform how patients manage their health records across the globe.”
PKB US angel investor David Beyer, co-founder of Chart.io said: “It was great to invest in Patients Know Best, I saw lots of fellow angels interested in the business because of their traction in the UK and then their recent expansion into working with the top US hospitals. I also believe in the company’s mission, putting power in the hands of consumers, which is what Silicon Valley is all about.”
In the UK, a number of NHS teaching hospitals have signed up as PKB customers since the start of 2012 including Evelina Children’s Hospital, St Mark’s Hospital, Salford Royal Hospital and Luton & Dunstable Hospital. PKB has also recently started working with health charity the AKU Society and with Invictus Health, a concierge medicine provider providing a premium patient service. Patients Know Best is now operating in the USA, Nigeria and South Africa and has ambitious global expansion plans.