Square One Law supports Changing Health in securing £3m investment
Changing Health, a Newcastle health tech company, is a leading provider of digital behaviour change programmes and has secured £3 million in new funding. The investment round was led by Shift Invest from the Netherlands, together with renewed investment from existing backers, Tate & Lyle Ventures and the North East Innovation Fund supported by the European Regional Development Fund, and managed by Northstar Ventures.
Spun out of Newcastle University and Newcastle Hospitals NHS Foundation Trust in August 2016 by Professor Mike Trenell, the company combines evidenced psychological tools with technology to enable people to improve their lifestyle habits. It will use the investment to develop existing and new programmes to address a huge unmet need and drive growth in the UK and overseas.
Changing Health provides its programmes to private and public healthcare providers and insurers, and is currently adopted by 30 NHS organisations across the UK to help people with Type 2 diabetes make positive lifestyle changes and better manage their condition. Users progress through a series of app-based learning modules to give them a better understanding of their health, and are then assigned a lifestyle coach, professionally trained in health psychology, to mentor them on regular phone calls and in digital interactions for up to 12 months.
This investment will allow Changing Health to launch and scale up two new programmes: one for people at risk of developing Type 2 diabetes and another for people who need support in managing their weight.
In 2019 Changing Health will launch an industry-leading AI platform for its UK and international partners to deliver an entirely personalised experience for each user. The platform will harness the power of big data to proactively identify the social, environmental or demographic factors most likely to influence users’ lifestyle behaviours – “person X feels they are too busy to exercise, most friends drink 3-4 times per week, they live within 500 metres of 3 takeaways”, for example – and provide a bespoke intervention for maximum impact.
Square One Law advised Changing Health on the terms of the investment made by the three funders.
John Grumitt, the firm’s chief executive, said: ‘Changing Health is quickly building momentum as health experts recognise that promoting lifestyle medicine – in a format anybody can access – is the best way to help people live longer, healthier, happier lives.”
“The investment will allow us to reach more people and support them in new and exciting ways.”
John added: “The service provided by the team at Square One Law has been excellent. They are very approachable, great to work with and their commitment and support has been invaluable.”
John Hammill, corporate partner at Square One Law said: “It’s been a pleasure working with John, Mike and the team at Changing Health in order to secure this funding for the next stage of the company’s growth. As a diabetic myself, it’s great to support a North East business in raising funds which will help to assist others with similar medical conditions.”