EMV Capital Completes the Acquisition of Wanda Inc, a Leading Telehealth Company in Silicon Valley
- On April 17, 2019
- By GrowthInvest Admin
- Wanda, headquartered in San Francisco, is a leader in providing AI-based virtual care applications optimizing care for patients with heart failure and other chronic diseases
- The platform warns of pending adverse events seven days before they occur, reducing readmissions and emergency department visits
- EMV Capital funding will be used to accelerate the company’s growth in North America and Europe
EMV Capital announced the acquisition and investment into Wanda Inc, a San Francisco-based digital health company commercialising advanced clinical decision support software powered by machine learning and real time patient data analysis.
EMV Capital’s investment will enable Wanda to accelerate its growth in the North American market, as well as to enter the UK and European markets. “I’m excited to welcome Wanda, an innovative digital health company into the EMV Capital family” said Dr. Ilian Iliev managing director of EMV Capital. “Wanda has shown impact and strong traction in the past couple of years and we are excited to support the company’s team through its growth phase. It fits in our investment thesis of backing exciting AI-powered technology platforms that can scale rapidly through industry partnerships.”
“We are delighted to welcome EMV Capital’s smart venture strategy. Their expertise in B2B technology investments and network of corporate partners will support Wanda’s growth stage,” commented Foad Dabiri, Co-Founder and CEO of Wanda. “We are very excited that Wanda has reached a stage where its products and technology have proven their value to our partners and clients and now it is time for the next exciting chapter in its mission.”
Bill Bassett, Chief Commercialization Officer of Wanda noted, “We intend to expand the operations and commercialization efforts of Wanda targeting new provider and payer segments in the health care space. The success experienced by customers including Accountable Care Organizations (ACOs), Post-Acute Care Providers, and Physician Practice Management Companies (PPMC) includes improving people’s quality of life, while reducing the adverse effects of chronic diseases, such as heart failure, and lowering the overall cost of healthcare.”
According to a recent study by the Centers for Disease Control, “$199 billion per year is spent on cardiac disease alone in the US. That amount is projected to grow to $1.1 trillion by 2035 affecting over 131 million persons annually.” ¹|² The global need for solutions like Wanda’s is projected to become even more expansive with the global market for Connected Healthcare solutions growing to $105 billion by 2022.³ Driving this growth is the crisis of chronic conditions lead by heart disease which is estimated to affect 1.1 billion adults globally.*
About Wanda Inc
Wanda is dedicated to advancing the effectiveness and efficiency of medicine by combining machine learning, virtual care and modern software applications to empower payers and providers to better manage the risk and outcomes of caring for patients with chronic diseases such as heart failure. Wanda’s predictive patient care platform is clinically proven to improved patients adherence and outcomes while dramatically lowering the cost of care. Wanda was founded from the results of eight clinical trials at the University of California Los Angeles (UCLA). More information about Wanda can be found at http://www.yourwanda.com.
About EMV Capital
EMV Capital Ltd (EMVC) is a London-based early-stage venture investor focused on B2B companies in the industrial high-tech, energy, circular economy, smart cities and transportation sectors and healthcare. EMVC’s investments in Europe, Israel and the US cover a range of technologies including robotics and AI, machine learning, materials science, IoT, advanced engineering, power electronics and medical devices. EMVC’s model is to develop a customized investment strategy for each company, combining its network of investors from Family Offices, Wealth Managers, Institutional VC investors and Corporate VC funds. EMVC recognizes the benefits of corporate engagement for early-stage technology companies, with EMVC’s team having led and structured investments alongside some of the world’s leading corporations, including ABB, Philips Lighting (Signify), Evonik Industries, Mitsubishi and Flex. Where appropriate, EMVC can help companies fast-track their investment readiness through its ecosystem of advisors and service providers.
Founded by Dr. Ilian Iliev, EMVC has a unique multidisciplinary team with expertise in venture investment, industry engagement, corporate development, corporate finance and M&A. EMVC understands the importance and value of environmental sustainability and ethical investment principles, reflecting this within its investment thesis.
EMV Capital Limited is an appointed representative of Sapphire Capital Limited, which is authorised and regulated by the Financial Conduct Authority. EMV Capital is also exclusive advisor to the EMVC Evergreen EIS Fund.
Industry reports cited:
¹ Benjamin EJ, Virani SS, Callaway CW, et al. Heart disease and stroke statistics—2018 update: a report from the American Heart Association. Circulation. 2018;137:e67–e492.
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