Memorandum of Understanding will facilitate acceleration of promising health and healthcare companies, and open new avenues for healthcare innovation in the UK and US.
NASHVILLE, TN, March 26, 2019 — Nashville-based investment and strategic advisory firm Briovation has signed a Memorandum of Understanding with three key partners to establish a presence in Greater Manchester and Northern England, in order to facilitate transatlantic investment and acceleration of promising health and healthcare companies. The intention of the agreement is to establish the joint planning and co-development of a comprehensive approach to identifying, investing in and optimizing innovation in health & wellbeing to facilitate the extension of Greater Manchester / North of England Partnership based businesses to the US, and vice versa.
Briovation has identified Greater Manchester and the North of England as an important world-wide center of healthcare innovation, and envisions this collaborative partnering relationship as highly complementary to its existing US business. “The Greater Manchester region has developed a healthcare ecosystem that is recognized globally for its leadership in health and social care, and its dynamic entrepreneurial environment creates an ideal opportunity to implement our proven approach outside of the US ” said Vic Gatto, Briovation’s CEO and Co-Founder.
[bctt tweet=”The Greater Manchester region has developed a healthcare ecosystem that is recognized globally for its leadership in health and social care.” username=”healthfurther”]
The UK partners, which include Health Innovation Manchester, Manchester’s Oxford Road Corridor, and TRUSTECH, are creating a vibrant and dynamic Greater Manchester health innovation ecosystem and are continuing to develop partnerships which enhance the growth of this initiative. “We are excited to partner with Briovation to broaden opportunity for local and regional healthcare businesses that are looking both for strategic investment and the ability to introduce their offerings into the complex US healthcare market,” said Jackie Oldham, Director of Strategic Initiatives, Oxford Road Corridor & Health Innovation Manchester. The UK partners will facilitate access to and relationships with new and existing companies and potential funding partners across the region, and assist Briovation with the development of specific entrepreneurial programs.
Briovation intends to replicate its US business model in the UK, which includes Health:Further, its strategic healthcare advisory group, seed fund Jumpstart Foundry, and the Jumpstart Capital growth fund. The focus of the relationship will be on identifying investments that provide accelerated health and social impact, boosting UK innovation in the US market, and extending the opportunity for US based solutions in the NHS. The partnership is originally structured for three years, and the partners have already begun the development of a comprehensive implementation plan which will be launched in the second half of 2019.
[bctt tweet=”The focus of the relationship will be on identifying investments that provide accelerated health and social impact, boosting UK innovation in the US market, and extending the opportunity for US based solutions in the NHS.” username=”healthfurther”]
Briovation is an investment and strategic advisory firm which is uniquely positioned to take advantage of the enormous opportunity created by tectonic shifts in the massive healthcare and health & wellness sectors. The company’s three integrated business units work together to identify, fund, and accelerate companies at the forefront of this transformation. Within Briovation, Health:Further serves as a strategic advisory firm, partnering with executives of established healthcare organizations to evaluate, implement and accelerate innovation programs. The investment arm of Briovation provides seed and growth-stage capital to healthcare companies through Jumpstart Foundry and Jumpstart Capital, respectively. The company is based in Nashville, TN and is working with portfolio companies and partners across the US, and has recently expanded its focus to include the United Kingdom.
ABOUT HEALTH INNOVATION MANCHESTER
Health Innovation Manchester (HInM) sits within a £6bn devolved health and social care administration – Greater Manchester devolution (GMdevo) creating a vibrant and dynamic Greater Manchester health innovation ecosystem. This provides a unique opportunity to dramatically change the healthcare innovation environment, bring the best global innovations to the UK and shorten the time from discovery to marketplace and impact. HInM delivers better care faster and improve the health and wellbeing of Manchester residents, acts as a test bed for the UK and ultimately worldwide to demonstrate how city/regions can combine together with industry to create new partnerships that deliver improved global healthcare and world-wide economic growth.
ABOUT MANCHESTER’S OXFORD ROAD CORRIDOR
Manchester’s Oxford Road Corridor sits at the heart of Manchester’s knowledge economy, a recognised centre for science, research, development and the commercialisation of innovation. It is home to world leading educational institutions (University of Manchester ranked 34th in the world, ARWU) and many specialist companies that benefit from access to the NHS, university research, laboratories and the availability of the commercial space they need to grow. Oxford Road Corridor provides considerable investment opportunity that is benefitting from a total £2.6bn capital build investment programme over a ten-year period up to 2025. The successful isolation of graphene in 2004 and the funding that followed, coupled with major investment in complementary areas, has allowed Oxford Road Corridor to carve out a science, research and development niche. The city has identified advanced materials and health innovation (e.g. precision medicine, med-tech, digital health) as key markets with significant scope for investment and accelerating growth.
TRUSTECH bridges the gap between the UK’s health care provider (the NHS), commissioners, and the commercial, academic and international health care sectors. Their aim is to improve the way in which the NHS operates by encouraging the development or adoption of innovative techniques, solutions, technologies and services for the benefit of all patients. TRUSTECH’s Innovation Nexus service is a gateway to holistic business growth support focused on the specialist needs of life science SMEs. They have worked with many international MedTech companies to help them develop and adapt their technologies for the UK market.