Healthera receives funding from Government-backed Innovate UK to tackle critical challenges in the UK pharmacy sector
CAMBRIDGE, England, Dec. 1, 2022 /PRNewswire/ -- Healthera, Cambridge-based digital health platform, today announces that it has been awarded funding from Innovate UK to develop the next generation of innovative patient-pharmacy healthcare platform.
Following a rigorous process, and for the 3rd time since 2017, Healthera has been awarded funding from Innovate UK. Healthera has been offered an innovation loan of up to £500,000 to support its ongoing innovation in the community pharmacy and consumer medicine sector throughout the United Kingdom.
Innovate UK, the UK's innovation agency sponsored by the Department for Business, Energy and Industrial Strategy, actively supports game-changing and commercially viable R&D projects that can significantly impact the UK economy.
About the Project
Utilising this new funding and with a strong leadership team with first hand experience in the industry, Healthera is addressing three critical opportunities to 'future-proof' UK pharmacies in this age of rapid digitalisation and growing consumer expectation:
- Enabling private treatments to be provided by local pharmacies digitally - ensuring safe and local clinical care for millions of patients with conditions like erectile dysfunction and hair loss.
- Improving medication adherence and access to repeat medication through a combination of smart algorithms, analytics tools, and targeted pharmacist support.
- Improving speed and accessibility of local delivery for medicines from the largest digital network of pharmacies in the UK.
Healthera will leverage its network of over 1500 pharmacies, its current platform and infrastructure, and the clinical training of pharmacists on the platform to help more patients get access to private treatments for conditions that are often left untreated. This will allow local pharmacies to be a part of the rapidly growing sector that was previously only available to online doctors. Innovation from the project also aims to provide accessible delivery options for areas of the UK that do not currently have access to local medicine delivery – and continuing Healthera's original mission to improve adherence of medicines, reduce medicine wastage and spearhead the growth of pharmacy revenue – all this at a time when central funding and revenue channels are being limited for the community pharmacy.
Quintus Liu, CEO of Healthera commented, "This is an important step in our mission of becoming the go-to health hub for patients. As the market leaders for digitally transforming the pharmacy landscape, we're excited to receive support from Innovate UK to expedite this total innovation and truly future-proof the UK's vital community pharmacy industry."
Andrew Bellingham, Director of Product and Strategy at Healthera commented, "The pharmacy sector, which I've worked in for 20 years, is well-prepared to enhance their efficiencies, expand to more healthcare verticals, and reach more patients outside of their local vicinity through adopting digital technology. We've identified these opportunities and market gaps and are thrilled to be delivering the support that our invaluable community pharmacies deserve."
Scott O'Brien, Director of Innovation Finance at Innovate UK commented, "We're pleased to offer an innovation loan to Healthera to support the team on their mission to improve the delivery of healthcare through local pharmacies, a large market that is critical for the health of the nation and one that is now becoming ready to be further enhanced through digital innovation. The industry has huge potential for growth and it's important that an innovative platform like Healthera continues to push boundaries."
About Healthera
Founded out of Cambridge University, Healthera operates a market leading healthcare platform that provides patients with medicines, healthcare services and products through the largest digital network of pharmacies in the UK, including over 1,500 pharmacies from large national chains and independent providers.
About Innovate UK
Innovate UK is part of UK Research and Innovation, a non-departmental public body funded by grant-in-aid from the UK government. Innovate UK drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas, including those from the UK's world-class research base.
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