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MARCOL: Investing in the future of healthcare
HealthHero, with the support of MARCOL Health, is transforming the healthcare delivery continuum
The acceleration in the adoption of telehealth services during the pandemic has captured the attention, and interest, of investors. As we begin to see a transition from pandemic to endemic, and a backlog in addressing patient health concerns, there remains vast opportunity for telehealth services. Research suggests that 75% of primary care consultations in Europe could be resolved remotely, but less than 1% of them are executed digitally. HealthHero, seeks to address this challenge and has become one of the biggest telehealth providers in Europe, optimising the experiences of 30 million patients.
More than a virtual GP, HealthHero, supported by MARCOL Health, is building a digital health services ecosystem that serves patients, businesses, governments and insurers by reconfiguring patient pathways and reducing inefficiencies, to position patient experience at the heart of healthcare delivery.
MARCOL Health began exploring investments in virtual consultation and remote care delivery in 2015, with the belief that the advent of digitalisation had the potential to drive a paradigm shift in the delivery of healthcare – both physical and mental. What started as an investment in Medical Solutions, a Bracknell-based telehealth company in 2017, has evolved into one of the largest digital telehealth companies across Europe. HealthHero now includes digital triage, digital health monitoring, digital therapeutics, consultation tools, clinician augmentation and pharmacy and diagnostics capabilities.
To help fully realise the vision – Simplifying Healthcare. Improving Lives – and maximise the potential of these acquisitions, MARCOL Health partnered with Ranjan Singh, an entrepreneur with over 20 years’ experience innovating and investing in sectors on the cusp of transformation, and co-founded HealthHero in 2019. HealthHero is now committed to building a unified digital healthcare system that marries user-centric innovation with healthcare expertise to provide the best service to patients. Ranjan has bolstered the company’s operations, growing the HealthHero team to over 800 employees, and refined the vision into the brand you see today. MARCOL Health helped drive this growth by identifying additional strategic acquisitions, providing support to the company’s business functions and developing HealthHero’s investor base.
Ed Radkiewicz, chief executive of MARCOL Health said: “At MARCOL Health, we are focused on harnessing the power of technology to address the biggest challenges in healthcare: access, quality and cost. Our work with HealthHero has allowed us to build one of Europe’s largest telehealth providers that is focused on addressing all of those issues. HealthHero is a prime example of how MARCOL Health supports our portfolio companies with financial, operational and advisory support and expertise. We have worked closely with Ranjan and his management team to crystallise the vision for the company and we look forward to continuing our work to scale the business into an international platform.”
Ranjan Singh, chief executive of HealthHero commented: “In collaboration with MARCOL Health, we have built a leading digital telehealth system in less than five years. MARCOL Health’s collaborative approach and ongoing support has enabled me and the management team to execute our strategy and grow HealthHero into a pan-European platform. We are excited to be on this journey – and look forward to continuing our momentum to Simplify Healthcare and Improve Lives.”
For more information, please contact Ed Radkiewicz, chief executive of MARCOL Health on:
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Ed Radkiewicz, chief executive, MARCOL Health
Ed joined MARCOL in 2015 with more than 20 years’ experience within the health sector across the UK and Europe, the US and North America, Latin America and Asia-Pacific. Ed has built and managed several international healthcare businesses that included private-equity-backed operations in developed and emerging markets, as well as acquiring and integrating established companies across international regions. The health operations included care delivery, health technology and management, mental health, diagnostics and wellness. Prior to this he worked for the world’s largest healthcare business based out of the US, UnitedHealth Group, where he led its international health services and technology operation ‘Optum’.
Ranjan Singh, chief executive, HealthHero
Ranjan joined MARCOL Health as managing director, digital health and formed HealthHero in 2019. As a digital executive, entrepreneur and private equity investor, Ranjan has been innovating and investing in sectors on the cusp of transformation for over 20 years. Prior to forming HealthHero, Ranjan held leadership positions in high-growth digital companies and private equity firms.
This year's report focuses on the healthcare investment market trends from the past year and covers our thoughts for the year ahead.Market reports