Scottish Equity Partners takes minority stake in Exco InTouch
Will provide a initial investment of £3m to accelerate mobile patient communication solutions
Scottish Equity Partners (SEP) has taken a minority stake in UK mobile patient communication and management solutions provider Exco InTouch, with an initial investment of £3m.
Exco InTouch says it will use the funds to accelerate its expansion in the clinical technology sector, particularly in the emerging mobile patient communication market.
The firm, whose clients include Pfizer and Almac, has developed a suite of patient-focused services, which are delivered using a combination of mobile phone and Internet technology.
These services support patient recruitment and retention, aiding compliance and facilitating the electronic capture of patient reported outcomes data (ePRO) during clinical trials and in Late Phase observational studies.
The firm has supported more than 600,000 patients participating in clinical trials in more than 70 countries, including working with Pfizer on the industry’s first mobile-enabled clinical trial.
With demand for its services growing, Exco InTouch is also targeting opportunities in the broader healthcare market as its mobile technology can be used to manage patient education, medication compliance and measure effectiveness.
Exco InTouch, founded in 2004, employs 40 people and has its headquarters in Sawbridgeworth, Hertfordshire, UK.
The firm also has bases in the US and has recently opened a second UK office in Nottingham to accommodate a further 30 people.
SEP will support the company through its next growth phase, enabling it to invest further in people, technology and infrastructure and enhance its mobile technology platform. Jan Rutherford, a partner at SEP, joins Exco InTouch as a non-executive director.
Neil Rotherham, executive chairman at Exco InTouch, said: ‘SEP will be able to complement and challenge us, as well as helping our continuing growth.’
