London-based RwHealth is rumoured to have hired brokers from Finncap to prepare an initial public offering and list on the junior stock market. Sky News reports that RwHealth is expected to target a £100million plus valuation when it lists during the first quarter of next year.
The firm, which specialises in Artificial Intelligence, works alongside numerous leading hospitals in the NHS. Through the application of AI in the NHS, RwHealth has developed software which can learn to anticipate patient flows and drive cost-improvement programmes.
At the helm is a man well versed in the healthcare sector, Orlando Agrippa, who boasts over a decade of experience working in numerous positions across National Health Services. His newest venture could be his most successful yet, as RwHealth’s Data Science Platform (DSP) continues to improve the way that healthcare works.
The current Coronavirus Pandemic has only emphasised the pressures faced by the world’s health services, and the news of RwHealth’s potential IPO has arrived in the midst of a debate about private companies in the NHS. The backlog of patients waiting for treatment, increasing scarcity of available hospital beds, dwindling resources, and ever-present number of COVID cases have all highlighted the need to streamline processes in healthcare.
While RwHealth did not comment on the prospective flotation next year, the company has frequently reiterated its commitment to address ongoing crises in healthcare. Mr Agrippa writes:
‘Now, more than a year on from the first realisations of the true impact Covid-19 was to have across the globe, the time to address what is not just a crisis born of the effects of a virus of this magnitude, but also of a wider spread healthcare challenge, is more urgent than ever.’
RwHealth’s software is currently in use across several NHS trusts and large pharmaceutical companies and the ongoing healthcare crisis is suggestive that soon, the reach of this company will increase as more hospitals attempt to improve their patient flows.
The news that RwHealth is potentially listing on the junior stock market next year is exciting, and should news follow that the company has succeeded in receiving a £100million plus valuation, few should be surprised. The future is uncertain as the world continues to fend off COVID-19, but the future of healthcare will most certainly include the AI systems from companies like RwHealth.
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