PKB raises $1.7 million with Maxfield Capital

We are excited to announce that venture capital fund Maxfield Capital is investing in Patients Know Best. Alexander Lazarev of Maxfield Capital said:

We believe the Patients Know Best approach of putting the patient at the heart of their healthcare management is unique. It solves the problem of a fragmented Electronic Healthcare Record market, which sees many different healthcare providers developing siloed information systems and thus prevents patient information flowing freely between organisations.

Our full press release and Tech City News article are included below.

Maxfield Capital


UK based Patients Know Best (PKB), the world’s only fully patient-controlled online medical records system, has today raised $1.7m of investment led by venture capital fund Maxfield Capital.

PKB is a fully secure online tool enabling patients to better organise, manage and control access to their own healthcare records – it also saves the time of physicians and doctors by enabling secure online consultations, remote monitoring and shared care planning.

Patients Know Best is already working in over 40 medical institutions across the world and its customers include Great Ormond Street Hospital, St Mark’s Hospital, Luton & Dunstable Hospital and Leicester Medical School.

Dr Mohammad Al-Ubaydli, founder and CEO of Patients Know Best said:

“We believe that putting patients in control of access to their medical records is crucial to improving patient care and driving efficiency in the NHS and beyond. Today, PKB is connecting patients’ data across hospitals, community nursing teams, social care, mental health trusts and prisons. The technology is used across 8 countries in 11 different languages. This investment will enable us to develop the product further and hire additional clinical staff to support the company’s continued rapid growth.”

Patients with long-term conditions are often treated by multiple care teams who only have a partial view of that patient’s medical history – which can affect the care they receive. By using Patients Know Best, the patient can give anyone involved in their care a single view of their medical records – and receive more rounded, joined-up care.

Alexander Lazarev of Maxfield Capital said:

“We believe the Patients Know Best approach of putting the patient at the heart of their healthcare management is unique. It solves the problem of a fragmented Electronic Healthcare Record market, which sees many different healthcare providers developing siloed information systems and thus prevents patient information flowing freely between organisations.”

***

About Patients Know Best

Based in Cambridge, UK, PKB integrates fully into the NHS secure network and is available for use by any patient with any clinician anywhere in the world. Patients Know Best complies fully with UK NHS information governance requirements as well  as the EU Data Protection Act and US HIPAA legislation for dealing with medical data. PKB was founded by Dr. Mohammad Al-Ubaydli, a physician, programmer and expert in IT healthcare.  www.patientsknowbest.com

Customers include

About Maxfield Capital:

Maxfield Capital – we help technology companies to go global. Maxfield Capital is a venture capital firm that invests in global seed and early stage technology companies. Our original approach aims at creating global success stories by bridging the gap between high quality engineering and commercial execution. Our team of experienced professionals has a strong technology operating background, solid venture investing experience and a long track record in supporting key global innovation ecosystems. Maxfield Capital is currently considering investment opportunities in Eastern Europe, USA and Israel.@MaxfieldVC

Contact:

Chris Smith, Swarm Communications

+44 (0) 7989 321 743

chris@swarmcommunications.co.uk

Dr Mohammad Al-Ubaydli, CEO

Patients Know Best

+44 7724 189 415

mohammad@patientsknowbest.com

Nadir Khabdulin, Corporate Communications Director

Maxfield Capital

Phone: +7 (925) 006-50-92

E-mail: nkh@maxfieldcapital.com


From Tech City News

Cambridge-based startup is world’s first fully patient-controlled online medical records system

Patients Know Best (PKB) has raised $1.7m investment led by global venture capital fund Maxfield Capital.

The Cambridge-based startup is the world’s first fully patient-controlled online medical records system.

It particularly addresses patients being treated by multiple care teams, giving anyone involved a single view of their medical records to help provide more rounded, joined-up care.

Maxfield Capital is a venture capital firm that invests in global seed and early stage technology companies.

David vs Goliath

PKB was founded in 2008, less than a year after the launches of Microsoft HealthKit and Google Health.

But founder Dr Mohammad Al-Ubaydli says the two giants’ systems still had a high barrier to entry for users. That was the problem PKB set out to solve.

Data stored on PKB is encrypted and can be accessed solely by the patients themselves, unless they sign off permission for a relative or their doctor to access it.

The system also addresses legal worries that doctors previously had when submitting information.

Expanding outward

PKB is now working in over 40 medical institutions, including Great Ormond Street Hospital, St Marks Hospital, Luton & Dunstable Hospital and Leicester Medical School.

The technology is used across eight countries including Australia, Kuwait and the US, and in eleven different languages.

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