An artificial intelligence-based firm which works with leading NHS hospitals including London’s Royal Free is plotting a listing on London’s junior stock market.
Sky News understands that Realworld Health has hired brokers from Finncap to prepare an AIM flotation that is expected to take place in the first quarter of next year.
City sources said the company was likely to target a £100m-plus valuation when it lists.
Previously called Draper & Dash, the business uses machine learning to anticipate patient flows in hospitals and drive cost-improvement programmes.
Its software is now used by a number of NHS trusts and large pharmaceutical companies.
AdvertisementRwHealth was founded by Orlando Agrippa, a former executive in the NHS and Australian healthcare sector, in 2017.
Image: The COVID crisis has intensified pressure on the NHS to contend with a backlog in patient careThe company competes with the likes of Sensyne Health and Tempus.
More from Business COVID-19: PCR test providers warned by competitions watchdog not to break law in crackdown on ‘rip-off prices and bad service’ Just Eat plans to create more than 1,000 customer service roles at UK site EY fined £2.2m over Stagecoach audit failings Sharon Graham becomes first female general secretary of Unite union Climate change: Confusion and high costs threaten net zero homes plan Flight evacuated after passenger’s Samsung Galaxy A21 phone catches fireIts emergence has come amid a debate about the growing use of private companies within the NHS, even as the COVID crisis has intensified pressure on the NHS to contend with a backlog in patient care.
“There is a clear need to transform how public health systems manage waiting lists, care delivery and review,” Mr Agrippa wrote in a recent LinkedIn post.
RwHealth declined to comment on a prospective flotation on Wednesday.
