MedModus secures €1m funding to support growth
Dublin, Ireland December 20, 2019 – MedModus has today closed a €1 million funding round through Davy’s EIIS Fund and Enterprise Ireland. The Davy’s EIIS fund is managed by BES Management DAC – a joint venture between BDO and J&E Davy. The Dublin-based analytics provider is working with health and social care providers in Ireland and the UK, helping them improve operational performance, reduce waiting lists and optimise service capacity. The business has shown strong organic growth with increased demands from its core market and international clients.
The business intends to build upon its success with this investment, expanding both its sales and delivery teams to meet demand.
Commenting on the investment MedModus CEO Déaglán MagFhloinn said:
“We are delighted with this investment in MedModus. It reflects our progress to date and will enable us to significantly expand our products and services in Ireland, the UK and other countries. Our vision has always been to deliver analytics-enabled improvement in healthcare and this investment allows us to fulfil that vision”.
Andrew Bourg partner at BDO said: “We are delighted to be investing growth capital behind a high quality and experienced team. MedModus is fast developing a reputation for delivering measurable improvements quickly. Their first-class products and a deep understanding of the complexities of all health and social care environments really sets them apart from the competition.”
Niall McEvoy, Manager Enterprise Ireland HPSU said: “A key priority of Enterprise Ireland’s 2017-2020 strategy is to support start-ups with global ambition to build scale and expand their reach in overseas markets. The MedModus platform has the potential to unlock significant efficiency gains through business intelligence in the health and social care sector, and we are pleased to support the business as it embarks on the next stage of its international scaling journey”.
Photo, left to right: CEO, Déaglán MagFhloinn and Andrew Bourg, Partner, BDO.