ANDHealth, a digital health commercialisation organisation in Australia, has secured A$19.75 million ($14.3 million) in government funding to support its programme for small and medium enterprises. It received the funding under the federal government’s Medical Research Future Fund – Early Stage Translation and Commercialisation Support programme.
In a press statement, the group said its new fund will usher in the expansion of its ANDHealth+ programme that supports up to 25 high-growth potential SMEs, which are picked via a competitive process.
According to ANDHealth CEO Bronwyn Le Grice, Australian digital health firms have only raised a median capital amount of approximately A$250,000 presently.
Under the programme, the organisation is providing up to A$1 million in investment, along with a dedicated support team, access to a c-suite industry advisory panel and specialised services from pre-vetted suppliers.
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“This programme will be transformational in providing an investment of up to $1 (million) per company, alongside substantial support and expertise to accelerate the scale-up of these life-changing technologies,” she said.
The ANDHealth+ programme has supported companies using technologies such as computing platforms, connectivity, software and sensors to treat, diagnose, cure, mitigate and prevent diseases and other conditions.
The organisation targets to open competitive applications for its expanded ANDHealth+ programme in September.
Source: Mobihealthnews
