London based Marcol Health has acquired Bracknell-based Medical Solutions, a provider of remote 24/7 primary care consultation services via a team of qualified GPs, after receiving funding from Santander Corporate & Commercial, including a Growth Capital loan, which is aimed at the UK’s most dynamic businesses.
Marcol Health is an investment house which specialises in backing and supporting entrepreneurial, internationally scalable, healthcare businesses to maximise value for all stakeholders.
Established in 1998, Medical Solutions offers high-quality tailored, integrated healthcare services to major insurance and cash plans, and the firm is at the centre of the UK’s fast-emerging virtual healthcare industry. Its team of qualified GPs can diagnose, prescribe and refer over the phone, via video link or a ‘GP surgery’ app. Medical Solutions already covers 3.1 million people across the UK and 70% of consultations result in effective diagnoses.
The funding from Santander Corporate & Commercial has enabled Marcol Health to acquire a majority shareholding in Medical Solutions.
Santander’s Growth Capital loans are targeted at businesses with an annual turnover of up to £50 million which have a demonstrated history of high year-on-year growth in turnover, profit or employment. The growth capital team work in conjunction with their sector focused relationship teams for their expertise on the sector, including the Santander healthcare team.
A spokesman for Marcol Health, said: “Remote GP services are playing an increasingly vital role in the healthcare sector as they help alleviate pressure on the NHS. With people working long hours, there is a greater need for accessing information and services beyond the 9-5 and this is where digital providers like Medical Solutions play a significant role. The UK’s digital healthcare market is expected to grow from £2 billion to £3 billion over the next two years alone and we are excited about working with the team at Medical Solutions to be a key part of that growth.”
Paul O’Reilly, Director, Growth Capital at Santander Corporate & Commercial, said: “Employers are more aware than ever before of the link between health and productivity and recognise that investing in their staff’s healthcare is likely to have a positive impact on their bottom line. Companies like Medical Solutions which provide that cover and do so beyond the models of traditional healthcare providers are likely to see significant growth over the coming years.”
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