EMV Capital has completed the acquisition of telehealth company Wanda.
Wanda, headquartered in San Francisco, is a leader in providing AI-based virtual care applications optimising 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.
The EMV Capital funding will be used to accelerate the company’s growth in North America and Europe.
The 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, EMV’s managing director. “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.”
“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, added: “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 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, $199bn per year is spent on cardiac disease alone in the US. That amount is projected to grow to $1.1tn by 2035 affecting over 131 million persons annually. 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 $105bn by 2022. Driving this growth is the crisis of chronic conditions led by heart disease which is estimated to affect 1.1 billion adults globally.
Wanda is dedicated to advancing the effectiveness and efficiency of medicine by combining machine learning, virtual care and modern software applications. 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 UCLA.
EMV Capital 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.