We are growth investors. Our aim is to ensure that every business we are involved with maximises its potential for the benefit of all stakeholders. We back ambitious businesses that compete on strength of technology, customer insight or service excellence. We have deep experience and networks across consumer markets, TMT, service sectors, and healthcare and education.

Gresham House Ventures

At Calculus Capital they are specialists in creating and managing tax efficient private equity funds for the individual. Funds that are ideal for today's market - offering generous tax benefits, and significant growth potential within a sensible risk profile. They look to make £2-5 million investments in established companies with proven management teams and a successful product or service. Their entrepreneurial flair, combined with their experience and sound commercial judgement has resulted in a diversified investment portfolio and an impressive track record.  In June 2013 Calculus Capital was top ranked in the prestigious Martin Churchill Tax Efficient Review for the 6th year in a row.  The Government has recently shown its support for EIS funds, by maintaining the five generous tax benefits and widening the scope of EIS investments. These changes benefit Calculus Capital's rigorous and proven strategy. As a result they are experiencing their strongest pipeline of prospective investments yet.

Calculus Capital

eConsult Health

eConsult Health is the leading digital triage provider to the NHS. Created by NHS clinicians, for clinicians and patients. We help you transform the way you deliver care, enabling safe and effective triage so that your patients are in the right hands. eConsult is our primary care offering, eTriage is our urgent and emergency care offering.

<div>eConsult is a UK-based triage platform that allows patients to consult their National Health Service general practitioners online. Patients can request medical advice or treatment, obtain test results, self-help advice, and submit vitals through the platform.&nbsp;</div>

More important now than ever, telehealth will long outlast the pandemic that drove its growth.

Telehealth

eConsult

Improving Patient Access to Care: Vodafone UK & eConsult Health Partner Up

Google Cloud

eConsult partners with Google Cloud's Vertex AI to enhance digital triage, aiming to deliver fast, safe, and effective care to every patient. The collaboration will integrate Large Language Models (LLMs) into primary and secondary care triage products, supporting clinicians in providing optimal care.

Companies developing B2B software solutions for patient engagement, care navigation, practice management, and electronic health records integration to facilitate telehealth services for healthcare providers. 

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 eConsult is a UK-based triage platform that allows patients to consult their National Health Service general practitioners online. Patients can request medical advice or treatment, obtain test results, self-help advice, and submit vitals through the platform.&nbsp;
 
 
 The platform is built on a clinician-led database of more than 10,000 questions used to identify urgent cases and to direct patients towards an appropriate care pathway. The platform facilitates one-way messages with information, telephone or video consultations, and scheduling of face-to-face appointments. Since its inception, over 9 million eConsults have been completed by patients in the UK.
 
 
 Founded by NHS clinicians in 2013, more than 3,200 NHS GP healthcare providers across the UK have currently integrated eConsult into their practice. 
 
 
 
 
 Key customers and partnerships
 
 
 In February 2024, the company partnered with Google Cloud to refine healthcare services using next-gen AI. Through the partnership, eConsult Health planned to use Google Cloud&rsquo;s Vertex AI platform to accelerate its digital triage services' provision. This ensured patients received necessary care more promptly and from suitable care providers. Moreover, the collaboration also integrated LLMs into eConsult&rsquo;s digital triage products, which helped optimize healthcare delivery in primary and secondary care.
 
 
 
 
 
 
 Funding and financials 
 
 
 The company last raised funding in February 2021, when the company raised GBP 7 million (USD 9.6 million) in a Series A funding round led by Gresham House Ventures, along with participation from other existing investors. The funds were set aside to be invested in the company&rsquo;s urgent and outpatient care management solutions.
 
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 Nice Healthcare is a US based telehealth company with a focus on primary care services to business-to-business (B2B) clients. Once the employer signs its employees with Nice (at a cost of USD 30 to USD 36 per employee per month), employees do not have to incur out of pocket expenses for Nice services and can schedule virtual or home visits within the time frames specified by the company. It connects patients with practitioners through a mobile app over video calls or text messages. Members can also request home visits which will be completed within a few hours, as claimed by the company. As of March 2022, Nice was operating in twelve states, and had over 400 small and medium enterprises (SMEs).
 
 
 In March 2022, the company raised USD 30 million in Series A financing led by DNA Capital which has been earmarked to expand its platform&rsquo;s reach among small and medium businesses. Additionally, the company is hiring three members for its management team to support the continuing growth of the organization.
 
 
 
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Nice Healthcare

Amicomed is a cloud-based Software-as-a-Service (SaaS) platform which provides blood pressure monitoring services. It collects blood pressure data of patients from at-home devices, applies algorithms, and assesses the fluctuations in the blood pressure. Physicians can be connected and provided with blood pressure data of their patients in order to facilitate their workload, enabling more personalized management of patients regarding medication and lifestyle indications.Amicomed can also recommend actionable and personalized lifestyle interventions such as daily diet and exercises via virtual coaching.

Amicomed

Winston is a men’s health telemedicine platform that treats common issues impacting men such as sexual problems, hair loss, acne, and cold sores. Winston allows patients to consult doctors, place orders for prescription drugs, and offers free delivery to the homes of patients.The Toronto-based company aims to avoid men deferring doctor visits or withholding sensitive information. The consultation fee is covered by the provincial health plan, but the prescriptions are billed to the customer.

Winston

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 Dialogue partners with employers and health insurers to offer telehealth services to their employees and members. The users have 24/7 access to doctors, nurses, and other healthcare professionals via audio, video, and chat options for wide arrays of physical and mental health needs, artificial intelligence-enabled (AI-enabled) triage, referrals, and prescription renewals. 
 
 
 The company launched its trademarked Integrated Health Platform in January 2021 to consolidate its virtual care, wellness programs, mental healthcare services, and Employee Assistance Program (EAP) onto a single platform. The company claims to be the only integrated health and wellness B2B platform in Canada. 
 
 
 Key Customers and partnerships
 
 
 Dialogue had direct relationships with over 2,000 customers across Canada and Germany as of December 2020 and served around 50,000 organizations through these partnerships. In addition, the number of members with access to the virtual platform topped 1 million in January 2021. 
 
 
 Fundings and financials
 
 
 As of March 2021, Dialogue was planning to raise CAD 100 million (USD 80 million) from an initial public offering that will be listed on the Toronto Stock Exchange under the ticker symbol &ldquo;CARE.&rdquo; 
 
 
 In Q2 2023, net losses reduced significantly YoY to CAD 5.8 million (USD 4.3 million) from CAD 8.4 million (USD 6.3 million) in Q2 2022. Top-line revenue met internal expectations, growing 17.2% YoY to CAD 25.5 million (USD 19.0 million), driven by &nbsp;an increase in new members (by 18.6% YoY), 
 an expansion of the attach rate as existing customers added more services, and full-quarter contributions from Tictrac.
 
 Dialogue Health has not provided any forward-looking guidance as the company has entered into an agreement to be 
 <a href="https://investors.dialogue.co/English/news/news-details/2023/Dialogue-to-be-Acquired-by-Sun-Life/default.aspx">
 acquired by financial services company Sun Life Financial
 </a>
 for a consideration of CAD 365 million (USD 270 million) or CAD 5.15 (USD 3.82) per share. The transaction is expected to close in Q4 2023. Post acquisition, Dialogue will delist from the Toronto Stock Exchange but will continue to operate as a standalone entity under the &ldquo;Sun Life Canada&rdquo; brand from its head office in Qu&eacute;bec. 
 
 
 
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Dialogue

Grin offers telemedicine and remote monitoring services for orthodontic needs such as braces and teeth straightening. Patients can conduct self-scans (using a Grin device made available to patients in collaboration with 3M) which can be connected to their smartphones and share the feed with orthodontists to access dental solutions. The company plans to go to a subscription-based model after the pandemic. The app also encourages patients to have a 40-second check monthly and share the scan with a dentist in order to allow patients to regularly maintain their dental hygiene.Grin is the only Telehealth disruptor covered on the hub that provides virtual orthopaedic consultations.Funding and financialsIn April 2021, the New York-based teledental platform concluded a seed funding of USD 14 million, and the funds will be allocated to develop additional functionalities by building out its technology. The proceeds will also be used to scale up its team, expand its geographic footprint, and add doctors to the company’s orthodontic partner network.

Grin

Real-time collection of patients’ health-related data using any remote patient monitoring device combined with general telemedicine services to reduce readmission rates. 


A platform that facilitates the transmission of patient data to different locations for further evaluation and interpretation by medical specialists. 


A digital platform that offers specialty care services to address the specific needs of a patient or demographic, including consultations where patients are generally reluctant to meet practitioners face-to-face.

Primary care through virtual consultations for general health-related concerns using a digital platform or mobile app. 

IoT is used by most telehealth providers to operate virtual services

All telehealth players are involved in digital health via virtual offerings

Industry players offer varying degrees of personalization for each target audience

Some players offer technology and platforms to healthcare providers, converting physical-only services into virtual services

Specific telehealth offerings focus on diversity and inclusion, providing care to LGBTQ+ or BIPOC populations

Generative AI is used to streamline administrative tasks such as clinical note-taking

PROMINENT_CATEGORY

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 eConsult Health has formed a partnership with Google Cloud to enhance healthcare services utilizing advanced AI. Through this collaboration, eConsult Health will employ Google Cloud's Vertex AI platform to expedite their digital triage services. This will enable patients to receive essential care quicker, from appropriate care providers. Furthermore, the partnership will incorporate LLMs into eConsult's digital triage products to optimize healthcare delivery in both primary and secondary care settings.
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eConsult

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