Health diagnostics disruptor in search of funding and international growth
A Birkenhead diagnostics disruptor is seeking further investments and is jetting off to India this month in a bid to expand its international reach.
Simon Maurer, founder of health technologies firm, Simed Global, said he believes the remainder of 2024 will prove to be a transformative year for the sector.
He is on a mission to bring world-beating and life-changing medical devices to the market.
He said: “We intend to bring our platform technology to the market that will allow for instant screening for population diseases, with results in 50 seconds”
The company currently employs 15 people with its headquarters based at Woodside Business Park, and offices also in Newcastle and London.
Merseysider, Dr Patrick Druggan, is the firm’s Chief Scientific Officer.
Maurer began the business four years ago and has attracted private equity investment to date totalling £1.75m.
He is currently in talks with further investors in the North West region and is also visiting India this month. He said: “This is to discuss distribution opportunities for major companies with operations based there but with a global reach.”
Maurer cites the volume of unnecessary prescriptions for antibiotics and how this leads to the development of antibiotic resistance as a major driver in initially establishing the business.
He said: “Analysis from UK studies have shown, for example, that antibiotic prescriptions are only appropriate in nine per cent of cases where 50% are currently being unnecessarily prescribed.
“Over-prescription of antibiotics leads to adverse events where a patient has an unanticipated reaction to the antibiotic. These adverse events cost around £300m annually.”
Maurer has long questioned why there have been no non-invasive, instant point of care tests that allow clinicians to tackle this problem and to reduce costs of healthcare, and risk to patients.
“There are 1,257 hospitals and 15,500 General Practitioner practices in the UK where point of contact testing could be carried out for respiratory infections,” he said.
It is projected that, within three years, more than 300 instruments will be placed in the UK and EU, carrying out one million tests. This represents less than one per cent of the total number of visits in the UK and EU combined.
