Locum’s Nest, a London-based medical workforce know-how firm that connects healthcare professionals to vacant work within the NHS, has raised a seven-figure undisclosed quantity in a strategic financing spherical, this publication can reveal.
A number of buyers took half within the multi-million increase together with the present investor AlbionVC, and new public sector know-how veteran buyers similar to Oracle Europe’s founder Geoff Squire, former Salesforce EMEA chairman Steve Garnett, Locum’s Nest chairman Allen Swann and Locum’s Nest non-executive director and chairman of Tech Nation Stephen Kelly.
The funding follows a £3 million Sequence A funding spherical in 2018, seed spherical of £1.1 million in 2017 and an preliminary associates & household funding spherical of £100,000 again in 2016.
The beginning-up firm intends to make use of the funds to speed up progress within the UK and Eire bridging extra trusts collectively. The goal is to double its service customers reaching 100 NHS trusts by the tip of 2023, HealthInvestor UK is advised.
The variety of hospital NHS trusts utilizing the platform has grown from one in 2016 to simply over 50 immediately, whereas docs on the platform have grown from 20 docs in 2016 to greater than 50,000 docs in 2022. Locum’s Nest has been recognised as one of many fastest-growing corporations in Europe by the Monetary Instances in 2021.
General, 90% of Locum’s Nest’s customers come from NHS whereas simply 10% are personal suppliers together with HCA Healthcare – all HCA UK hospitals are utilizing Locum’s Nest.
So far, Locum’s Nest has saved NHS £750 million and goals to hit £1 billion financial savings, in line with Ahmed Shahrabani, co-founder of Locum’s Nest.
Shahrabani says: “We’re very excited by the likes of the people who invested. That cash is so wanted by the NHS and might be redeployed in lots of extra essential locations than paying recruitment companies. It’s going to in the end assist put the ‘Nationwide’ again within the NHS and convey our nationwide healthcare system collectively relatively than creating competitors, which is the very best we’ve been making an attempt to push a lot for the final couple of years.”
AlbionVC managing accomplice Will Fraser-Allen provides: “The NHS is such a beneficial nationwide establishment however is suffering from a staffing disaster. Locum’s Nest’s workforce software, conceived by Ahmed Shahrabani and Nick Andreou, two docs working throughout the NHS, is proving to be an progressive and efficient answer to that disaster. The adoption charge by NHS trusts to this point speaks volumes concerning the efficacy and financial savings that the Locum’s Nest mannequin brings. We’re excited to be offering additional funding to assist Locum’s Nest on this essential journey.”
Date printed: Might 23, 2022
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