Case Studies

TestCard has developed a highly differentiated at-home rapid testkit that provides immediate and precise results via mobile phone application-based technology

TestCard

TestCard operate in the $500billion per annum digital health sector and provide their non-invasive at-home rapid test technology that provides immediate results for an array of medical conditions traditionally requiring GP or laboratory assessment.

The market for at-home rapid diagnostic kits alone is forecast to be worth $32.5billion by 2025. Testcard has developed a proprietary testkit that is inexpensive to both manufacture and buy and allows users to effectively turn their mobile phone into a clinical grade scanner.

The testkit comprises a urine dipstick and mobile device application which uses an algorithm to analyse colour and change on the diagnostic card. A simple binary result of yes or no for the test carried out is given within seconds. The data behind this can then be shared at the patients discretion, with their GP for treatment should it be required.

With the aim of giving people more control over how they access healthcare, whilst also potentially taking further strain from a beleaguered health service; Testcard’s initial at-home UTI testing kit launched in late 2020. The Company has an extensive future product pipeline, including tests for pregnancy and ovulation optimsation, glucose/chronic kidney disease, STIs and drugs of abuse screening. TestCard is the size of a postcard, meaning a cost effective and quick delivery can be achieved, which is precise and easily understood and the results can be accessed by anyone, anywhere.

Covid-19 has further emphasised the relevance and timeliness of the TestCard proposition as the speed at which healthcare is migrating from clinics and hospitals to the home accelerates. The home diagnostic market is expected to grow significantly and TestCard, with its leading-edge diagnostic solutions, looks well positioned to benefit from these growth trends. 

 

 

  • Capital Raising £5.7m EIS Equity
  • Investors HNWI, principals of West Hill, Management, Family Offices, Institutional investors
  • Outcome The initial West Hill led EIS equity round had targeted a £3million raise but following strong investor demand, closed at £4.5million
  • West Hill investors susequently invested a further £1.2million alongside VC, Neo Ventures
  • The company has now launched its first at-home UTI testkit. Further kits are scheduled to launch including tests for pregnancy and ovulation optimisation, glucose/chronic kidney disease, STIs, drug abuse and prostate screening