ANDHealth+ program offers up to $3.75 million in equity-free funding and expert guidance to Australian digital health companies, enabling their global growth.
ANDHealth+, spearheaded by the esteemed health technology commercialisation group ANDHealth, represents the pinnacle program of its kind in Australia.
Backed by the Medical Research Future Fund (MRFF) funding, it stands as the country’s largest support program exclusively dedicated to digital health commercialisation.
ANDHealth+ portfolio companies have raised $144 million, generated $48 million in revenues, and created over 400 jobs. The rigorous selection process draws upon industry leaders and insights from ANDHealth’s International Investment Advisory Committee.
Each year, the application round strives to identify Australia’s most exceptional digital health companies, with a maximum of seven companies being chosen.
Once accepted into the program, ANDHealth+ offers comprehensive industry mentoring and support. It involves a two-stage investment process, providing equity-free funding for projects. Successful applicants will receive dedicated assistance from a project support team and benefit from the guidance of a panel of esteemed senior executives representing various sectors.
ANDHealth CEO and Managing Director Bronwyn Le Grice said, “The unique combination of real-world experience and track record, hands-on support and non-dilutive investment available through ANDHealth+ has been proven to be a game-changer for many of our past and present participant companies.”
“As of March this year, our first two ANDHealth+ cohorts funded by the MRFF have already raised over $17 million in funding and reached over 200,000 new patients, engaging over 500 new commercial customers in a little over a year.
“Since the pilot started in 2018, companies have raised a massive $144 million in new funding and generated revenues in excess of $48 million whilst reaching over 500,000 new patients and supporting the Australian economy,” Ms Le Grice said.
“If innovators have a proof-of-concept digital health technology which is focused on substantially changing clinical paradigms and improving patient outcomes, ANDHealth+ provides a unique opportunity to access global industry leaders, funding and support which can accelerate commercialisation and market entry, and sets companies up for significant success in capital raising and customer attraction.”
ANDHealth+ is currently open for applications via the ANDHealth website, www.andhealth.com.au/our-programs/plus. Applications will close in mid-June.
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