Current Health

The opportunity: We were initially drawn to the teams’ medical experience, early pilot NHS primary care success, the vision of leveraging advancements in technology to monitor patients both in hospital and at home and the value proposition that could be realized given the pressures on global health systems. The platform enables accurate remote monitoring reducing the need for manual observations in hospitals and at home after their discharge – unblocking critical bed space earlier. Clinicians can then spend more time concentrating on higher priority patients.

The outcome: We first discovered the business as judges of the Converge Challenge in 2014 and tracked the business for 18 months before investing in April 2016. We worked with the founders on strategy, sourcing key resources, and generating commercial traction. Richard Lennox (formerly Skyscanner), a Par Investment Network member joined as COO in 2019. Current Health went on to build a transformative technology, uniquely sitting at the nexus of healthcare delivery and drug delivery at home. The platform model opened partnerships with the likes of Dexcom, which feeds its glucose monitoring data into the system, creating an increasingly powerful device for clinicians and large pharma. In October 2021, after a year of revenue growth at +3,000%, NYSE listed Best Buy, snapped up the business as the focal point of its “health at home” strategy.

What they said: John McLean, CFO Current Health, February 2021: “Par Equity has been a stand-out investor for Current Health, backing the company in each investment round since inception and helping us break into the US. They are a value-add partner and unique in their ability to support the development of medical device companies into the highly regulated healthcare and pharmaceutical sectors.”