London-based digital healthcare start-up, GripAble has secured £8.5 million in funding to enable it to expand its data platform and therapy services as well as to focus on growth in Europe and the US.
The start-up delivers rehabilitation programmes to people with neurological and musculoskeletal conditions using a digitally-led care pathway. The programme combines bespoke hand-held sensors, app software, and hybrid tele-therapy services to allow patients to access physical and cognitive rehab for longer, thus seeing improved outcomes at the same time as reducing costs.
Dr Paul Rinne, GripAble co-founder and CEO, said: “Patients with physical and cognitive impairments require guided therapy to improve their quality of life. Simply put, the more rehab they do and the more they adhere to professional guidance, the greater their chances of having better outcomes, with a wealth of evidence backing this up."
“However, due to resource costs and poor logistics, current health systems cannot deliver the amount of therapy needed, with significant backlogs, and few patients receiving anywhere near what they require to get better."
“This is a common problem faced by hundreds of millions of patients around the world, with inefficient care pathways not only costing health systems hundreds of billions of dollars every year, but costing people a chance to live their lives to their full potential."
The funding for GripAble was led by IP Group, with equal investment from Parkwalk Advisors and comes after the company focused its activities in the US and partnered with medical equipment distributor Medline.