Denplan parent company Simplyhealth announces £60 million venture capital fund to drive healthcare innovation
NewsPosted by: Dental Design 14th November 2022
Simplyhealth, parent company of Denplan, has announced the launch of its Venture Capital fund, ‘Simplyhealth Ventures’. Over the next few years the fund will invest £60 million in UK-focused, early-stage healthcare businesses to accelerate the development and adoption of predictive and preventative healthcare solutions. These investments will support Simplyhealth’s overriding purpose to improve access to healthcare for all in the UK.
The UK has a long-held reputation for innovation, R&D and an entrepreneurial mindsight. Through its Venture Capital fund Simplyhealth wants to support the Government and UK economy in these challenging times, as well as broaden its products for its customers.
Marking the launch of this fund, Simplyhealth Ventures has announced an investment in Daye – a female founded gynaecological health company on a mission to raise standards in women’s health and to close the gender gap in medical research and innovation by creating convenient products and services for period pain, at-home STI testing and the treatment of vaginal infections. This funding is crucial in enabling Daye to progress its offering from menstruation to vaginal microbiome screening and beyond. In particular, it will allow Daye to launch the world’s first ever tampon-based at-home vaginal microbiome screening kit.
Professor Sneh Khemka, CEO of Simplyhealth said: “I am proud to launch Simplyhealth Ventures, which has been a focus of mine since I stepped into the CEO role last year. We’re investing in pioneering healthcare businesses in the HealthTech and MedTech sectors and have already made significant investments this year in predictive and preventative healthcare in the UK.
“We strive to make healthcare accessible to all and I am excited that we can financially support innovative healthcare businesses through our fund, addressing challenges in the UK healthcare system. We are a purpose-driven company with no shareholders, so our profits go to fulfilling this purpose.”
Valentina Milanova, Founder of Daye, comments: “We have ambitious plans to ensure women’s health is treated with the importance it deserves, and we are delighted to have Simplyhealth join us on that journey. This funding will support Daye’s growth and the launch of the UK’s first tampon-based at-home vaginal microbiome screening kit, making vaginal testing more accessible, easy to use, and even more accurate.
“Simplyhealth’s investment will also enable us to build a comprehensive platform for gynae health, giving more women and AFAB individuals valuable insights into their bodies.”
Simplyhealth Ventures has already invested in two innovative HealthTech start-ups. In May, the fund took a majority stake in Ocuplan, the country’s leading provider of plans to support those with chronic eye conditions. This was followed by an investment in Ampersand, a digital therapeutics platform for chronic inflammatory conditions.
Established in 1872, Simplyhealth is one of the UK’s leading health solutions businesses. Over the past 150 years it has built a solid reputation and dedicated community, offering affordable, personal and corporate health plans. To find out more, click here.
