CDD for Foresight’s investment into NorthWest EHealth

Foresight Group, an award-winning listed infrastructure and private equity investment manager, has invested £3.0 million of growth capital into NorthWest EHealth Limited (“NWEH”), providers of software and services to the clinical trials market.

Established in 2016, NWEH grew out of a collaboration between the University of Manchester, Salford Royal Foundation NHS Trust and Salford Clinical Commissioning Group. Its products provide the life sciences industry with an alternative approach to clinical trial design and management. NWEH’s leading-edge technologies help run trials more cost effectively, from feasibility studies to the World’s first large scale Phase III trial using data directly from source electronic health records (EHR).

With Foresight’s support, NWEH aims to become a leading provider of clinical trials and data-driven trial design, feasibility and recruitment. The investment will be used to expand the current data network, enabling the Company to deliver a larger number of trials at a global level, increase product development and expand the sales and marketing team to help build long term, strategic relationships. The existing team have strong credentials in their field and are led by founder and CEO Martin Gibson.

Customers include several of the largest global pharmaceutical and research companies, such as GSK, Novartis and PPD. The market opportunity is vast, with global clinical trials estimated to be worth $69 billion annually and forecast to grow at a rate of 5.7% per year until 2026. The UK is one of the leading global markets for clinical trials, currently worth £3 billion per year, with life sciences identified as a priority sector by the UK Government post-Brexit.

PMSI provided CDD on the investment, including analysis of the market dynamics and market sizing, competitor landscape, and customer referencing, as well as deeper analysis and forecasting of the effects of continued global development of the RWE and RWT space, including the role COVID has played in driving change, and assessment of forward revenue projections.