Press Release: December 21, 2020
Manchester based clinician-led digital health company, Rinicare, has further strengthened its foundations with the appointment of a new Managing Director and the closure of a finance round, which included investment from the Future Fund.
Whilst many have long since appreciated the benefits digital technology can bring to healthcare, the scale and pace of digital transformation in the UK has, often, been modest. However, since the COVID-19 pandemic began, the MedTech industry has been thrust into centre stage as the world looks for more efficient ways of delivering healthcare in this rapidly changing environment.
The new MD, Dr Anthony Holmes, has taken up the post having worked with Rinicare in a consultancy role over the past few months. Anthony’s career spans both medical and technology sectors having gained significant experience working with several cutting-edge machine learning and computer vision firms in the digital entertainment, industrial inspection, and healthcare industries. He also holds a PhD in machine learning applied to breast cancer identification. Most recently Anthony has been working with UK based SMEs to help commercialise AI based software solutions that have a particular focus on medical applications.
Bolstered by the new perspective, with accelerated momentum from their recent addition to the senior management team and investment that will be used to expedite development, Rinicare is keen to evidence the value it can bring to global healthcare systems.
Holmes said: ‘The reality is that there a number of exciting innovations in the MedTech space. What will set them apart is their ability to work within existing clinical pathways and provide genuine clinical value in a cost-saving manner. This is what differentiates Rinicare and is why I was keen to join the team and why Mercia Asset Management and Catapult Ventures support the business. The technology is innovative and cutting edge. But what is exciting about Rinicare, and what sets them apart from the competition, is the fact that the technology has been developed by clinicians for clinicians. By specialists who understand the infrastructure, the pathways and the challenges faced by clinicians and healthcare professionals every day.’
Unlike many technology products, Rinicare’s solutions have been designed by a multidisciplinary team which combines clinical and technology expertise. Designed to integrate seamlessly with existing IT infrastructure, Rinicare’s solutions interface with relevant data streams and sit within existing clinical pathways. Rinicare’s portfolio of solutions have all been designed to positively impact on patient outcomes without negatively disrupting clinician / patient engagement.
Holmes, Rinicare, continued: ‘Rinicare has an innovative portfolio and high-value pipeline of AI-powered solutions that identify patients at high risk of deterioration in different settings, from ICUs to care homes. Research has shown that an earlier clinical response offers significant patient benefit as it reduces avoidable harm and enables cost savings to be made by the healthcare system. Rinicare’s solutions are designed to strengthen clinical pathways that can have an impact on patient outcomes whilst being mindful of the economic pressure global healthcare systems are currently facing. That is a powerful combination and one which has motivated great interest amongst the healthcare providers we are currently working with.’
Holmes’ initial priority will be to oversee the first trial deployment of their new clinical solution, Stability UO, in a large NHS hospital in Greater Manchester later this year. Stability UO is designed for use in a critical care setting and helps the clinical team identify patients at increased risk of low urine output, a strong risk factor for Acute Kidney Injury, a common and serious condition that affects up to 20% of hospital admissions. The annual cost of AKI-related inpatient care in England alone is estimated at £1.02 billion, about 1% of the NHS budget. Early identification of risk in these patients increases clinician confidence and can support intervention or discharge decisions, improving patient outcomes and freeing up valuable resources.