Bridges Ventures backs Orla Healthcare

Harriet Bailey
27 May 2014

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Bridges Ventures has invested in Orla Healthcare, a London-based service delivering acute medical care at home.

One of the company's aims is to ease pressure on A&E units, having already signed its first NHS contract with an Essex hospital where the new service is being piloted.

Also this month, Bridges committed capital to Brighton-based care provider Alina Homecare, which also provides care services within the home. The company states it aims to work closely with patients, local authorities, the NHS and other relevant organisations to improve integration between health and social care.

Bridges made the investment from its Sustainable Growth Fund III, a £125m vehicle that closed in October last year exceeding its £100m target. This is its fifth investment from the fund, which aims to make three to five investments per year. Bridges typically invests £2-15m in either later-stage businesses that are generating revenues of £5-50m, or start-ups seeking capital to scale up.

Previous investors 3i and Doughty Hanson have committed to the fund, with The European Investment Fund as a new backer and cornerstone investor. According to Bridges, the third fund invests in SMEs operating in the healthcare, education and environmental sectors, as well as under-served areas. The company states 80% of its investments go into companies in the most deprived parts of the UK.

Company
Orla's services are based on the Australian ‘Hospital in the Home' concept, provided in New South Wales since 1994. Based in London, the company was founded by Rory McCrea and Sarah Chilvers in 2012. The model aims to improve patient outcomes and patient satisfaction by providing an alternative delivery of care at a lower cost to hospital care.

The service is led by consultants with 24/7 supervision and specially developed clinical processes, systems and technologies. Orla claims patients opting for the service will receive the same standard of care and monitoring as in hospital, while hospital bed spaces are freed up for other treatment purposes. It also claims care in the home has been shown to deliver benefits including reduced patient stress and faster recovery times, particularly for the elderly.

People
Garret Turley is partner and Ian Taylor is investment director at Bridges. David Harrop is CEO of Orla.